Yes.
I agree with you that it is very confusing. In my Opinion this happens because of two things:
1. folllow
2. charge = only movement ?
If we go down to the basic mechanics the charge gives you:
www.d20srd.org/charge said:
Charging is a special full-round action that allows you to move up to twice your speed and attack during the action.
Normally you get: Move Action + Standart Action (= normally single attack)
The charge gives you more: Move Action + Move Action + Standart Action ( = single Attack)
But it counts as a full round action.
A normal full round action gives you all your extra attacks plus a 5 foot step if you like.
And now I would say the pounce gives you a
big full round action:
Move Action + Move Action + Full Attack
If you treat it like you interpretate it you would have something like
two Full Round Actions:
Move Action + Move Action + Standart Action (First Full Round Action)
+ Full Attack (Second Full Round Action (minus 5 foot step

))
To be honest that cannot be.
If you compare it to
haste: You only get one extra attack and only if you take the Full Attack Option. They reduced it from the 3rd Edition where you get an Extra Standart Action (which made it very usefull for wizards).
So Pounce would be really overpowered if you get
two Full Round Actions.
Cheers, Evil DM