Yes, it does work like that. It's the same with Amood. People at first thought that it was a typo in the description, and that it should say "Occasionally attacks 2-3 times," but then people figured out it was just Double Attack affecting it.
The double attack is nice if all you want is tp gain, but personally as a war/sam I was already getting TP too fast to use on Imps so really with the latent up it was just lowering my Raging Rush dmg. No biggy though, 3 hits in a row means some damn nice DPS ^^