FWF,
I agree, EGPWS can be configured to offer multiple warnings and alerts depending on the type of operation, and I think in a case like this it might have helped the crew's situational awareness and aided quicker recognition of the PF's loss of control. I have witnessed EGPWS in use over land but i'm not quite sure of the set up and effectiveness of it over the sea, perhaps some offshore pilots familiar with the system can comment on that? Like most things in aviation it usually comes down to money...
BC