Fareastdriver,
The time delays after failure are varied depending on the flight regime. For the region where the sticks are continuously moving to pilot command (the hover, and the area of the HV curve below the "knee") the time delays are nil, and the only time interval after the engine cut is a 0.3 second pilot reaction time (before the collective can be lowered.)
For level flight, the delay is presumed to be 1.0 second, and the reaction time is imposed on top of that, giving 1.3 sec total from cut to collective down.
The calculation I gave below was in theoretical "seconds of total rotor stored energy" and does not precisely correlate with the figures above, except in a general way.