Michael,
That sounds fair, I think that's a pretty good explanation.
I also put extreme short-siding in this kind of category as well, like being in the thick rough above the hole, where the pin is 5 paces on, and all you have between you and the hole is a slick downhill green. So in these situations I try to use the same caution in not getting in those brutal spots.
P.S. And given your example of Rye and Thomas Levet, I too am amazed at the kind of shots they can hit to recover in impossible situations...