They aren't conflicting, but the second one could be a little clearer.
The transforms are setting the queue, and the last one to run will win. That is, the setnull transform will match all events, and set them to the nullQueue. The second (setparsing) will then run, and set the queue to indexQueue. While the data is still raw (not cooked) you can still manipulate the queue, as shown in the docs.
If the setnull were to run second, then all of the events would be sent to the nullQueue, which is not desired in this example.
So, yes, they are run in the order of the list.
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