Not exactly, it only puts a byo-yomi on passing. In a normal game, you generally only have two passes at the end of the game, which does not matter, or there is some resume of play, in which case you get reset to your original time or 15 seconds, whichever is the greatest. If the resumption leads to a big unexpected fight, the person with 15 seconds will likely lose on time anyway.
The only way you could “abuse” this backdoor in a game with absolute timing is if you decide it’s worth the pass to gain 15 seconds. I don’t think there are many positions where 15 seconds is worth more than your opponent getting a double move.
And trolls can still hold up the game, but they can’t make you lose because of absolute timing. They can’t time you out by playing stupid moves, basically.
Other than passing, absolute timing will stay the same, if you run out of time before the game is ending, you just lose, and time is not reset if you play a stone.