Signal to the jack does not actually run through the tone pot.
What the tone pot does is divert some treble to ground before it reaches the output.
Assuming you do mean one tone pot into another tone pot, then to ground... I don't think that would give any advantages.
IMO if you want two regular treble rolloff pots on one signal (different caps for different frequencies), best to run them in parallel.
You would normally tap them both from the same spot, not one into the other.
EDIT: If you want a bass cut plus a regular treble cut, they need to be separate because they work differently.
With a bass cut the cap actually is in the signal path, rather than on a side shunt like treble cut. It only allows higher frequencies to pass.
Here, the pot allows signal to bypass the cap, instead of feeding more through the cap like it does on a standard tone control.
Shunt, the word we use for an alternative path for electricity, was railroad jargon for moving a train off the main line to a side track.