S speed is not a limitation, it is the lowest speed at which you can select flap 0. Many have already posted the obvious, that changing configuration is a dangerous, ridiculous idea.
Some things I have done with sudden speed increases associated with windshear:
1. Convert the momentary speed increase into altitude, i.e. pull up above the FD demand. Be careful not to overdo it though.
2. Momentarity reduce the thrust a little, to approx 65-75% N1, if you're aboslutely sure that the speed trend is positive and you are going to overspeed. You can always put the thrust back on quickly, something you can't do if you start retracting slats. Obviously don't go anywhere near idle as it would take longer to get max thrust back.
Finally, as has already been mentioned a 10-15kts overspeed won't break the wings off whereas impacting the ground will.