I would say no. Flushable items are made to basically disintegrate once they hit water but compost able items take longer to break down usually. You risk seriously clogging your pipes if you were to flush such things. Even facial tissue (Kleenex) shouldn't be flushed because they don't fall part like TP does.
Also, most compostable/biodegradable items must be composted in a commercial facility. They won't biodegrade in a landfill -you should double check that with the manufacturer!
Re: Does compostable mean flushable?