I think the most critical aspect of our operation with respect to chip warnings is the fact it is over the North Sea, where landfall can be one hour or more away and who knows which helidecks in your vicinity are available for a landing. So generally, the option is a return to Aberdeen, Sumburgh/Scatsta etc, but the biggest variable is the classification of the problem.
Reading some of the previous posts, the chip warning light is taken extremely seriously, which just makes us even more curious about the variation in some North Sea crews declaring the problem. Unfortunately such complacency by crews can impact on ATCOs (especially the younger generation) who may start to treat such problems as complete non-events, when there may be a lot more to the situation than we are told about.