There is a hole under the emergency spillway.
All bets are off. The spillway wall is 1700 ft long and 30 feet high.
The lake would drain about 1 million acre feet in an hour.
Reminds me of the Old River Control Structure (Mississippi River) near-fail in 1973.
http://www.tulane.edu/~bfleury/envirobio/enviroweb/FloodControl.htm
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The material under the emergency spillway is soft limestone.
It will go slowly, and leave the weir high and dry.
Bigger danger is damage to the head gates of the main spillway from that erosion.