Well this isnt modern but in 1956 a Trans Canada Viscount had an uncontained prop overspeed. Unfortunately the crew carried out an emergancy descent at high speed (rather than low speed) and the prop hub failed, the departing blades destroyed the number 3 engine and killed a pax as they passed through the airframe. The crew were able to carry out a safe landing without further loss of life.
In aerodynamic terms while its certainly possible I imagine the various prop manufacturers have spent a lot of time working out failsafes.
Any -8 Q pilots out there want to comment on a truely modern aircraft?