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Hmm... where did I miss that moment? We'll have to check again.
Added 3 minutes later
In reality, you can perform any manipulations with both: exchange, speed up, while on a slow unit, equip them as needed, including during an ally's turn. The Ctrl key is what I missed at some point.
The point is not that both can do it, but that due to the slow data exchange, the visual picture for the second player displays incorrect information, and when they think everything is okay and they have transferred it, in reality, complete nonsense is happening. So, the one who approached to transfer troops/artifacts should perform all the manipulations.