212 Man,
I think we are talking semantics somewhat as I don't think the video evidence points to simple engine failure, BUT having landed on the water, simply lowering the lever slightly (to below the collective pitch angle causing the overpitching) would allow the Nr to increase rapidly to normal, or perhaps overswing slightly high, bearing in mind that the remaining engine will be at full power. If, as I said last time, the fenestron is no longer absorbing any power it may be quite possible to lift off again, especially as it appeared on the video footage that the aircraft was "caught on the rebound" due to the buoyancy of the hull.
Old Beefer, I think your first posting attempts are actually getting through. There are now two pages on this subject - each time you get "returned to the page" you will actually see the first page and have to scroll forward to the second.