NB NO 747 experience...
Whilst I resisted calls for 'Boeings head' on the Schipol Radalt accident, and given that as usual we are all working here on 'hearsay', I would question why B did not think about this 'failure' and its consequences above V1. Assuming it happened above V1 as stated, it left the crew with no real options but to continue with a crash extremely likely. The ensuing rotation must have been eye-watering! The call for inhibition of the LED retraction with more than xx power set is very strong.
If this failure should happen below V1 but at high speed............ I guess the T/off emergency briefs will be changing until mod action is in place.