My very basic thoughts on Oil Temp indications.
You would have accurate indication of the oil temp (still has oil in this failure mode)
However, the oil is not being pumped past the, now unlubricated, hot parts: so the oil temp is irrelevant, and could be falsely comforting. (Similarities with temp indications when the fluid is below the sensor. The classic case being car radiators: when dry, the indicated temp can drop...)
The elephant in the room, is the pieces of shaft/bevel gear potentially unrestrained in the TXMSN.
No light (on the MLube) is Normal
