Yes, it was fine in this case as the chain was intact, and it went back on without needing to undo the elliptical BB... which in itself probablly indicates I need to tighten the chain a tad now we are home.
I couldn't identify the item that was thrown up by the front wheel because it was after dark, and despite using an IQ Fly, we were bussing along at a good clip. I suspect it was a more solid item than a branch or stick, and it did clatter along the bottom tube before doing its dastardly deed on the chain.
When thinking about it later, we might have been in a spot of bother had the chain actually broken. I am not certain what speed the chain is meant for, and I didn't have joiner links in my little kit. However, I could probably have jemmied something together, taking a link out of the drive chain and shortening that, and transferring it over to the timing chain without too many dramas.
It was quite the eventful century for us -- some extremely tough climbs that put us out of time on the event were riding, some painful cramps for me, and then the timing chain incident.