The most common and most likely answer to this crossword clue is the 11 letter word SWITCHBLADE
I've seen this crossword clue in The Daily Telegraph
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More clues leading to the result SWITCHBLADE
Buddy explains!

The straight part
We know that "flick-knife" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case flick-knife = switchblade.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SWITCHBLADE mean?
SWITCHBLADE noun- A folding knife with a blade which opens automatically (under spring pressure) when a button is pressed.
- To attack or cut with a switchblade.
- To spring open or up.
- To (cause to) make a sudden move or transition.