jetjock and squareleg,
Whilst there is no harm in discussing the implications of multiple engine failures above V1, the authorities see no need to prescribe regulations for this circumstance as it is considered so remote that to do so would unfairly restrict operations.
In such a case "you are on your own".
As it's so unlikely to happen it's no big deal, and when speculating about what to do in that circumstance the definition of control as prescribed by VMC is irrelevant. The only question should be "will it fly?" straight or not is irrelevant. If you stop you are off the end. If you go you may or may not have enough control to go where you want to go.
We should not let multiple failures cloud our discussion making process for the more common single engine failure case.
Right now we don't know whether this was a multiple engine failure or structural failure or anything else.
If it was a single engine failure and the stop was commenced after V1 then it's a bad call.