I do not know whether this is intentional or a bug, but after you pop out of all of your ships and you are following a team mate, you can see all of their modules and their rockets on the bar, but you cannot see the cooldown of their mods or the amount of rockets they have remaining. The amount of rockets stays the same on the follow screen as if they had just jumped in fully equipped no matter how many they have shot off, and the modules when used never have the little cooldown timer shaded out thingy to show how long until the next use is available.
~Shadow