NAh, his explanation seemed pretty sound. It has to do with the way the transformer is coupled to the power section. In most amps there are components between the power section and the transformer that are liable to fail before the transformer does, and if they do it can protect the transformer itself, at least for long enough that you can switch the amp on (his example was that most marshall heads will last about a minute with no load before the transformer is ruined); with an ultralinear amp most (all?) of those components are absent, so the transformer tends to die much faster, which makes it less likely that you will notice something is wrong and switch the amp off in time to save it.
On the other hand, he also said ultralinear designs tend to be less prone to transformer failure related to other internal problems, so that kind of compensates I just prefer not to lose my ransformer if I blow a speaker.
That fusing scheme is pretty much what I was thinking of, but I didn';t know if it would work in an ultralinear amp. Thanks!