The way it has been explained to me is that there is a "flash stall", which happens when you mat the pedal from low RPM, and "stall", which is where the engine drops down to on the 1-2 or 2-3 shift under full throttle. If you've got a datalogger you can easily see this; you look at the RPM trace when you mat the pedal and it will climb at a high slope to a certain point, and then start climbing at a lower slope after that. The point where the slope changes is the flash stall. Then on the 1-2 shift the RPM will drop to a certain point, and that is the real stall speed. Its a lot easier to see on a high stall converter, I think; on my cars, especially my Galaxie, on the 1-2 shift the RPM drops to about 6400 and stays at 6400 for a brief period before it starts climbing again. This is the car catching up to the converter; the gear ratio change wants the engine speed to be lower than 6400, but the converter stall speed holds it up higher until the speed of the car catches up. Once it catches up, the engine speed increases again.
On my cars the flash stall speed is about 500 RPM lower than the real stall speed, and I think this is due to the fact that on the shift the engine is already well up into the power band and the converter is loaded harder.