Well, if you had a real emergency after neglecting an engine chip, it would not matter if you had your boss with you or not. And SAR would be called out in any case to pull you potentially dead out of a river.
Now, DID you still had a light on when you took off? If that is the case you don't know enough about your helicopter and should read yourself up before bad luck catches up with you.
When that is said, pending on your helicopter type and it's manuals, it may allow you to do certain checks yourself, in order to get you back to base. Some helicopters have as mentioned above, mag-plugs that can easily determine if something seriously is happening or not to your engine.
Perhaps you a bit off topic I sugest you read the initial post again. It is quite easy to judge now sitting on your confy chair at your home, but on a hostile environment it is a whole different story. Don't know about you, but i am very comfortable autorotating into a river bank on where I fly if needed to and walking away.
And I now very much about the helicopter I fly as I learned on ground school and factory training and acted accordingly during the warning light, the chip light was never neglected by me as you suggested. "land as soon as possible" and "land immediately" are two VERY different ways of acting.