Yah, I had one flip one me on my first test run. Driving on a short test drive, while constantly watching the temperature gauge, it went from 180 to 145 in a matter of seconds. I knew something was wrong. I drained the radiator an the thermostat was rotated. I have since put a third hose clamp just above the heads water outlets. I don't know of any other way of retaining the thermostat.
When this happens, the cooling capacity transfers to the side of the motor that the thermostat rotated, path of least resistance. In my opinion all flatheads should have temperature sending unit installed on both sides of the motor.