OK I answered my own question. Here is the EASA definition of "extremely remote":
"means unlikely to occur when considering the total operational life of a number of aircraft of the type in which the equipment is installed, but nevertheless, has to be regarded as being possible. Where numerical values are used this may normally be interpreted as a probability in the range 10–7 to 10–9 per flight hour."
That's one event in 10 million to 1000 million flight hours. Nick, with actual failures running at one in 25,000 hrs do you still think your baby meets 29.927 or was it a con job? Maybe you could still persuade your FAA buddies that it does, after all its only a factor of a thousand out and what's that amongst friends!
HC