Yes yes yes......you have discovered it. This is how you control the turn at the top in very slow rolling scissors.
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Wow, didn't realize the kind of mushing behavior was more desirable than pulling up and all the way over the top, but I can definitely see the application. It's a VERY fast nose down as compared to pulling over the top.
Since you are completely vertical (or nearly so), you can easily control the direction you come down by simply rolling the wings. You can roll in the vertical to place your lift vector opposite the bandit and then bunt the nose with full forward stick (controlling with rudder and throttle) to achieve a rapid nose down.
The second maneuver I described seems to be a variation on the falling leaf. It's a flat-spinning falling leaf with canopy down. The airplane's nose goes down slightly, the air flow hits the wings, and raises them back up a bit and to the side... this repeats... vaguely like a leaf falling.
I can actually get this fairly consistently, although it seems there's less combat application. It can certainly confuse your opponent though.
You might find this article useful.
http://www.auf.asn.au/groundschool/umodule8.html
I really need to get some rudder pedals... twist rudder doesn't give near enough fine control.