Crab
I think it reasonable to have a full EOL demonstated to a student by a highly experienced CFI or examiner so that they know what to expect for the last bit if it happens for real. I agree with Taint about the party trick and KMS has it spot on.
As mechanical engine failures are so rare (1 R22 in 8 years- and AAIB suggest that may have been as a result of carb heat control abuse), perhaps more emphasis ought to be given to not running out of fuel, carb heat, neg G, wire strike, bad weather and low Nr recovery- the issues that really kill pilots in R22s. This could be a more productive use of training time than bouncing R22s off the ground.