To avoid confusion.....A/T to off. That is per FCTM Boeing 737.
As a matter of fact, this confusion is only present due to bad or insufficient training. If a pilot understands the A/T and the Speed Off function there will be exactly the protection available which may be needed in a situation with varying speed such as the one we are talking about here.
If the A/T speed function jumps out of ARM and applies thrust, the thrust is for sure required to get back to bug-speed.
Surprises, as mentioned above, will only happen to underspeed situations, and I assume this is not a speed anyone should operate at in moderate thermal or gusty conditions.