To be pedantic, if the VC10 has suffered a double engine failure with the landing gear down, the drill is not to raise it! So if the FP asks for the gear to be selected up, that call would certainly be challenged by the other pilot and by the FE! It's because the doors opening into the airflow will cause even more drag than if the gear is stuck down.....just when the last thing you want is any more drag. Also, the subsequent loss of hydraulics could well cause some of the landing gear to adopt a 'Grand Old Duke of York' position - neither up nor down!!
Sorry, FEs, I am most certainly not having a 'generic' dig at you guys as I really value your part in our crews. A dig, however, at any company whose CRM seemingly allows uncommanded engine shut downs. And finally, yes, pilots are indeed not almighty