No, this is precisely correct. To simplify further:
1. Start H4 and H7
2. Flip H4 when it runs out (4-minute mark)
3. Flip H7 when it runs out (7-minute mark, 1 minute left on H4)
4. Flip H7 back when H4 runs out again (8-minute mark, 1 minute elapsed on H7)
5. When H7 runs out again (after 1 minute), exactly 9 minutes have passed