OK, you're right it will never get paid for now. Hopefully, in 2012 we will all be working to the same parameters.
The "acceptable risk" is not acceptable if you crash into property or people.
The Sea King advanced single engine profile is generally practiced once per year on re-cat. It involves, as you say, a droop of Nr to the fly away or a running landing reject generally to a very large piece of concrete or tarmac. It doesn't involve a vertical helipad profile.
The AAs do pull an engine during reject profiles and are practiced every 6 months. In the Bolkow this involves actually throttling back one engine to flight idle and in the EC135 the training idle switch is used which is very realistic. As for the 902 and 109 I couldn't comment. The EC135 also has a vertical helipad profile.
I flew a simulated profile worked out on best judgement. I didn't pull an engine, just reduced torques accordingly as per all simulated fly aways. Exposure time doesn't matter if the aircraft can always be landed safely or flown away anywhere during the profile. Better to take a little extra time amd make sure that the profile can be safely flown then rush to get towards SSE. If exposure time was everything then we would have no need for Class One profiles.