Witnessed the incident - odd because I wasn't really paying that close attention but was suddenly prompted to look by the reactions of several around me. Clearly they either noticed something was amiss or heard something on ATC (I did hear later that pilot reportedly made a call indicating he had a problem). Combination of luck, airmanship and one tough airframe saved the day, although it must have been momentarily alarming for those on the crowdline adjacent to where it happened (the plane came to rest approx half-way between the runway and crowdline, travelling towards the crowd).
Also odd the other pilot completed his 'half' of the display before landing (and promptly departed immediately emergency cover was restored).