Swapping Character Controllers
Yes, you can - but you will need to setup the child objects in the same way as the one you see below or as the example in the demo scene:
Make sure your player controller has a parent object above it and the FlashlightSwing is a child of that parent, not of your controller
This video is about adding a new FPSController, you don't need to worry about the padlock section as it's been changed in V1.6!