Hi captainbirdseye,
Since you've enjoyed the benefit of all engines performance up to Thrust reduction, if you suffered an engine failure after commencing your acceleration, then your performance should be OK (cheat and look out of the window).
However - if I was IMC, then I'd set TOGA (to get SRS) and delay acceleration until at EO AA.
FCTM, Normal Ops, 020- Pre start, Cockpit Prep.
"The thrust reduction altitude/acceleration altitude (THR RED /ACC) are set to default at 1,500 ft, or at a value defined by airline policy. The THR RED/ACC may be changed in the PERF TAKE-OFF page, if required. The flight crew should consider the applicable noise abatement procedure.
The one-engine-out acceleration altitude must:
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Be at least 400 ft above airport altitude
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Ensure that the net flight path is 35 ft above obstacles
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Ensure that the maximum time for takeoff thrust is not exceeded.
Therefore, there are generally a minimum and a maximum one engine out acceleration altitude values. The minimum value satisfies the first two criteria. The maximum value satisfies the last one. Any value between those two may be retained.
The one engine out acceleration altitude is usually defaulted to 1,500 ft AGL and will be updated as required."