Yes, it does happen sometimes - in terms of making some of the bunker placement most effective. Recently at Woking the course played too short. That said, I don't think the overall yardage was too short on the day, just how the yardage panned out per hole. I know the 4th is too short for me from the forward tees as its too easy to drive over the bunkers.
When I played TOC in October the frnt nine was too short, but the back nine was about right.
I have never played New Zealand where I thought it was too short. The course plays much longer than its yardage. In my experience , Lou's experience is normal. Guys feel like they leave shots out there, but that will happen time and again for them - if they go back. I expect Lou likes all the par 54s because they make a course play easier than if only one or two are in play. Thats how Swinley, New Zealand etc play hard, but look easy on the card - cases of false expectations in terms of what yardage means - among my favourite types of courses.
Ciao