Had this last night. It was because my buddy had picked up a "report to this and that person" from a flashpoint courier, and i hadn't. He shared the mission with me, and everything worked as it should after that.

Debuffs can be a pain to spot sometimes, and having the opportunity to enlarge them would be great. I also use the OP frames, but when we just 2-man heroics i turn them off so i can see and target companions better. About companions taking aoe damage and standing in nasty stuff i would say i don't have much problems with. I just put the companion on passive (default ctrl+2), then send him in for more when he's out of the fires or acid etc.

Aye it's possible. And a great way to gear up yerself and yer companions 2 manned everything up to and including Cademimu at the levels they were supposed to be for. So you don't need to outlevel or outgear the flashpoints to do this. The only thing we had a problem with was the Beast boss in Athiss. But it went down easy when we figured out how to best use our companions.