Bof, I'm pretty sure the Phantom Dive could happen with both engines running as well. When I was checked out on the CFS Meteor many years ago I was told that when sitting in the back seat, always keep your hand firmly on the airbrake lever to prevent any inadvetant selection even on a normal cct. Although I cannot be certain as I was overseas at the time, I was under the impression the Vintage Pair Meatbox was on both engines when it went in--could well be wrong though.
My best Meteor story concerns Church Fenton in the Auxilliary days. One day the Wg Cdr (when they did command Wings) got the whole lot, approx 35 aircraft airborne and took them all up to high level above 8/8ths clag. After a while there were some anxious faces looking at fuel gauges, the Wg Cdr simply rolled inverted and disappeared with the R/T "Well, I know where I am, you lot sort yourselves out"