It is a poor substitute for greasing the tapers. He doesn't say where they should be whacked but if you understand the mechanism by which a crank taper square releases stress you will also realize that simply standing and bouncing on the cranks, first goofy, then hotfoot, will make them seat higher upon the taper without having to hammer them. The type of hammering required - axial - will not be bearing friendly.
I have described the mechanism above.
Are we still talking crank here or has pedal loosening, a completely different phenomena, been put into the mix?