M2Dude & Brit312:
FWIW the LP Cock to shutoff was added to the precautionary engine shutdown C/L - but I think this was after (and because of) the AF inceident.
But I had understood that their engine failure that day had been due to a problem with the engine which caused enough vibration to damage the fuel pipe leading to the leak. I don't know if they ran the Fire / Severe Damage C/L, but that C/L always involved shutting the LP Cock as part of the Cleanup Items. Maybe they did "only" run the Precautionary Shutdown C/L - I have no idea, but the LP Cock position (which turned out to be key to the near loss of the a/c) would depend on it prior to the addition of that step in that latter drill.
I do remember there was always controversy in training circles about the Cleanup Items and when or where (or even "IF"?) they should be run: but IF the AF flight had run the Fire / Severe Damage drill and IF they had run the Cleanup Items soon afterwards, then their situation would not have been so dire.
No critisism of anyone intended (AF crew or forum posters), it's all such a long time ago now, but the nuances involved in Precautionary Shutdown / Fire - Severe Damage / Cleanup Drills were far from clear-cut...