Reject past V1? Sure, I would rather go off the end at 50 knots than face the alternative of a loss of control in the air. Leaving half a wing in the side of another aircraft, flight control jam in a type that has no control split system, full reverser deploy? Who knows what the effect could be until it actually happens?
As most good ops manuals state, it is impossible to write a procedure for every eventuality. In such a situation the PIC is authorized to do whatever it takes. Some enlightened regulations say that, too.