Since no 747 has ever had to ditch because of engine problems in almost 40 years I would say they operated safely by their op specs and the FAA should let them continue on with their excellent safety record since the FAA condones continuing as long as the captain considers it as safe as diverting. Here in the US we tend to think in twin engine logic and landing at the nearest suitable airport mode. I am impressed with BA standing up to the FAA and not letting them run their airline.