@gums:
The speeds had in fact been back online for almost a minute prior to the "crazy speed" comment. Just before the comment was made, the air data was again fouled, this time by stalled air.
The reason I can't fathom why he'd think "overspeed" is that the aircraft had been descending increasingly rapidly with the nose consistently pitched above neutral for 45 seconds prior to the comment - this behaviour is completely inconsistent with overspeed.