Man with that low of fuel pressure I cannot imagine how bad it ran or didn't when load and rpms went up. As fuel is the only lubrication and cooling in there...not good. Mine was certainly not a fuel issue as it is a redundant system with 2x the needed volume easy, surge tank, plumbed in the rear out the front ,and has pressure gauge with warning lit in the cab. Mine was cyl #4 just to add info. I think Dave's mentioned below was #2 but I can not recall for sure.
As to the issue of the part of the tip doing damage: IMHO, 99.9% it has already done what its going to do from what I read doing some checking of the forums and talking to various people. Think how many times that piston cycled before you cut off the engine. Think of the flow of air in and out (think of the volume of fuel smoke you saw as a rough estimation) with the cycling of the valves in ratio to the piston. Its either blown out or done its damage or both. Regardless you will have the same end result or repair or nothing.
I saw no ill effects from mine and I recall Dave up in Alaska had the same thing happen with his 400% near the same time I did and no damage to his that has shown up I know of. Certainly not a guarantee but still data points. Judging from the pics they all seemed to have the same general break pattern. Between nozzle ports taking at least part of the tip with it. It would make sense the larger the ports the weaker it gets, add in any stress weakness in the tip, and given the heat and pressure its a recipe for a failure eventually. It seems far more rare with 200 and under from what I have been lead to believe which makes sense.
All in all at least for me its more just a pain to deal with as long as you shut it down without hydro-locking it. You have to pull them and send the one or all off depending on the situation. If you are lucky its not the last one you pull if only sending the one LOL. Would certainly not be my luck....
Of course if your lucky like me this last week, you were using a 8 mm sock and did not realize it was broken/worn and it stripped two of the injector bolt heads before you caught what was going on Grr..... Not the worst as I pulled the solenoid and loosen the top bolt but still a PITA that is not needed when its the first time/project you have worked on your 7.3 since putting it up for the winter. Got to order me one of those top side creeper. I am getting tired of laying across the top of all those engine bay parts and the stock bumper sucks to trying to stand on and the step I use is just not quite the right height for everything. Think I will order one tomorrow.