I live in a country with a hot climate, and thus chillers are the norm here.
Over my 17 years in the hobby, I’ve observed quite a few chiller failures that sometimes led to disastrous results, the exposure wasn’t prolonged, but the increase was rapid.
I also have first hand experience with heater failure myself, I had set up a coral QT for some new acros, the thermostat failed and the heater stuck on, increasing the water rapidly to around 30c. I discovered this a couple of hours after the accident, and the first acro died the same day. And while I was able the keep some tissue from the other two acros alive for around week, they eventually all died.
Obviously not all corals will react this badly, but most SPS and many common LPS corals are quite susceptible to a rapid temperature increase and it often ends up with mortalities.
Even softies, which are quite hardy and can tolerate higher temperatures may react badly to a rapid increase like this.
So I’m not saying it’s a total loss, it most likely isn’t. But mortalities are expected.