Yes, but you can do this trick each time you manage to bump your leading toon ahead of the rest by one level, not just at 59/60.

Another way to give the leading toon an edge: cloth turn-ins. I'm pretty much out of cloth at the moment, and not grinding enough as I level to do the rep/exp cloth turn-ins on all my toons, but there's enough for one toon.

I'm at 32 on my last RAF group (druids) right now with RAF running out Monday. Just thought of this trick today, will update the thread on how well it works.