This happened while I was still at Meridian. From what I understand, the engine had not actually quit yet. The IP(VT-9 SERGRAD) had to bump up the power a couple times as it was slowly rolling back. So, while the book says eject for a complete engine failure, that wasn't the case here, yet.
While I was in T-45 land, the way I understood it was that if my engine seized, then by NATOPS I had to eject. If said engine was still turning/windmilling, then I could land. But if I landed with no engine then even if I saved the jet I might still be in trouble. I never tried it in the sim, but I had a discussion with one of the sim instructors that if I were in the process of a PA and I lost the engine that I would probably still try to land it vice ride the rails. He told me to not tell that to too many people as it was not what the book says to do. The PA profile is only there to keep you in the ejection envelope if you lose your engine, not dead stick it onto the runway.