I'm sure panhards have been used on BEs, but not by me personally. As for the ability to deflect the axle under driving conditions, it definitely happens.
There is a freeway overpass I take every day at speeds between 55 and 90, depending on the color scheme of the cars around me. It sweeps around about 110deg. The rear axle is "loaded up" with maximum deflection by the time I get about 2/3 around it. At that point there is a pavement imperfection that bounces me loose for half a heartbeat. At that instant, the deflection of the rear axle "unloads" briefly before the tires reconnect to the pavement. While its definitely a bit of a butt-pucker moment the first few times, I've gotten quite used to it. It's predictable and not at all an issue for me anymore. YMMV.
I found the behavior of the front end when it hits a bump at high speeds without an anti-sway bar to be truly terrifying. I'll never be without the front bar.
Glen Byrns