My IR instructor always covered the throttle quadrant with a clipboard before retarding a throttle. You knew the failure was coming, but it taught the technique of recognition better.
I sometimes think that too much reliance is placed during training on a "standard failure" i.e a sudden loss of power. Certainly it should be practiced as it is the worst case scenario, but engines do not always fail this way. I would like to see some emphasis placed in the sim on different sorts of failures eg slow failures, engine vibration with subsequent loss of power.
I would add that I am in no way criticising the actions of the unfortunate pilot in this incident who gave his very best in extremely trying circumstances.