Thanks for posting the link to "uncle jack's" mishap, Andy. I thought of that myself, but couldn't find a suitable photo.
Looking at that photo (and others), it seems clear to me that the countershaft in the bottom of the gearbox (which rides in the uppermost hole in the photo above) was forced down through the bottom of the case. This could happen if, for example, some sizeable chunk of metal got caught in the gear teeth and was forced between the gears by the inertia of the car, acting as a wedge between the two shafts.
Could have been a broken gear tooth as Geo's friend thinks, but I was wondering if perhaps it was a shift fork taper pin that backed out. Early gearboxes had safety wire for those pins, but later ones only had a nylon button that should probably be replaced every time ... only problem is that no one AFAIK makes replacement pins. I meant to ask Tim at TRfest if the shift fork pins were still in place, but didn't get a chance.