Yes I agree on the commands and having some radio chatter, (I would also like to be able to call out the enemy to the flight leader when I see them). I suspect that command changes are a lot of work to put in though, and the developers have a lot to be getting on with anyway.
I'm usually not flying as leader and there are really two things I try and bear in mind when flying as non-leader:
1) If you get out of formation I think it breaks the link, you are considered separated and that is it for the mission. I haven't ever been able to regroup (the leader doesn't call it). Whilst a bit of a downer, lots of Battle of Britain accounts I've read (of RAF pilots) suggested that after a battle everyone ended up going home alone anyway so try to obey the rules and stick to formation, then when it gets messy and you lose the rest it is just historical.
2) What does work brilliantly is the the 'help me' command. If you set a key to 'target last aircraft that hit you' ( I use one of my hat switches down) then hit 'help' you are most likely to see one of your buddies come in and help. You can of course use the 'target enemy' button to cycle enemy aircraft and get help before you are hit. This is really well done and such a valuable part of flying a single player sim as a fighter.
I've yet to get to lead a flight regularly, but I think the existing commands will be of more use then, when hopefully they work to command the attack, regroup etc.
For all the critical points I raise about WoTR, the truth is that so often when flying in WoTR I just find myself chuckling at how much great fun it is (or panicking at being shot up).