Yes its possible to veg and flower under an HPS. That will not be too much light for them, in fact when you start flowering, you'll want more to get optimal results. Be careful though, you don't want the light TOO close. Put your hand under the light the same height as the top of your little plants for a minute or so to see if it starts making your hand hot too quickly, if it does you'll burn your plants as well. HPS lights create alot of heat so keep an eye on your temps in your grow area. Ideally you'll want to have a little more blue spectrum light for vegging next time, like a metal halide, or some cool CFL's.