Nice vid. Is that a torn to shreds jib I see starting about halfway up the mast?
I never saw the main out with the jib backed, isn't that what it means to heave to?
Why was the storm rider deployed off the rail?
I found these videos via Drake Paragon's channel where he interviewed the skipper. You should look it up. It's good.
2011 NARC Rally Nightmare, Part 1 - An interview with captain AJ Smith from Swan 48 Bella Luna - YouTube
As to your questions, from what I remember:
1. The headsail unwrapped a bit up top in the wind - then kept pulling out until they had a big bubble at the top catching wind. They thought they were going to lose the rig, as it was a kevlar sail and wouldn't rip to relieve the pressure. It finally let go into what you see in the vid - much to their relief. They then hanked on a storm sail on a baby stay the skipper had insisted the owner install for them. That baby stay saved them and the boat according to the skip.
2. They were hove to with the storm jib. You can see it backed in that shot with the galerider.
3. Drake asked the same question. Apparently the skip rigged it that way because they were surfing sideways
down the waves. And he wanted to try to maintain a course toward Bermuda.
Another scary thing the skip mentioned was that they took on about 2000 gallons of water inside the boat (about 18" above the sole) when the speedo transducer was shot out of the thru-hull (blowing out the threads) from the water pressure after coming off a big wave. Basically blew a hole in the boat. They had plugs and were able to stop the leak and pump out, but they lost all electronics, the engine, etc.
These guys did a great job bringing that boat home.