There is perhaps some truth in this story. Shortly before the Falklands War I was asked to view an AEW 3 Gannet, which was up for disposal via the MOD tendering system, on behalf of a prospective purchaser.
Although the aircraft hadn't flown for a few years and lacked the radar, it was in good condition. I seem to remember that it had an overhauled engine fitted prior to its final ferry flight.
The chaps bid was successful, but by this time the Falklands conflict had kicked off. The MOD informed him, shortly afterwards, though that the sale had been put on hold, whilst they reviewed their AEW capabilities. Nothing came of it of course and I think the aircraft was released in May 1982.
HMS Bulwark was still around at the time and I understand an inspection was made to see if she could be put back into service, but she was deemed too far gone. Presumably this is what the Gannets would have operated off if they had been returned to service.