Rotorspeed,
Under your assumption that there was insufficient power to undertake this departure (which sounds reasonable) how could you possibly have conducted a vertical/back-up profile?
There is nothing magical about these types of Category A procedures; if there is insufficient power available for the rejected take-off, or a contined take-off, by climbing vertically (or rearwards) to 150ft you are only putting yourself in the HV diagram for longer.
Better that you have the AEO HOGE power that is required for this situation and take an oblique departure from the back of the bullring; that at least will leave you exposed for the shortest possible time.
There is also the point that if this was a Commercial Air Transport mission in Spain, it was certainly not in compliance with JAR-OPS 3. The protection of passengers from such accidents is one of the reasons why regulations are provided.
I hope now that the Mayor of Madrid is aware of such shortcomings - all-in-all a sad reflection on operating practices in Spain as there did appear to be open areas outside the bullring.
Jim