SIM training by its nature is a (or should be) a very tightly structured environment based upon the RFM, SOP's, Regulations and Rules.
Sasless - I agree when you are conducting the mandatory elements of the training but I don't think a double engine failure from a 500' hover at night is one of those - I'm sure DB is using 'freeplay time' at the end of the formal teaching to look at these techniques which is why I am encouraging him to think a bit more freely.
If you can get the forward speed on without compromising your RoD then a variable flare may be your best bet, even with limited references, but if you can't then discounting the option of a constant attitude EOL just because it isn't covered in the RFM is foolish.
SND - I agree, I don't have any problem with an overspeed if you are faced with a real EOL in difficult conditions.
However, when we used to teach on the heavy Army Gazelles at high AuM, we encouraged a small squeeze of lever during the flare, both to contain the Nr (we were only training) but also to use that rotor energy to enhance the effect of the flare in reducing forward speed and RoD. I have used that technique successfully in FSTDs to avoid the 'crash -limit'.