My guess is that it will end up being a more catastrophic failure than that. There are some failures that are very difficult to diagnose quickly enough to recover from. There are some failures that are unrecoverable.
I have a little over 5000 hours of flight time with 1000 in helicopters, but I haven't flown this Bell product or its sisters. I know some guys don't like the way the transmission works on the 4 bladed Hueys, but haven't heard anything negative about the 407.
Love the insight, I am a 600 hour Fixed Wing/ IFR Pilot.. only 15 hours I an eggbeater