Makes sense that bringing #1 back online could result in a kind of back-door way to recover from a spin, but not a high speed spiral. I don't know the two-engine Vmca on the P3, but remember that it was in the neighborhood of 140 kts on the C-130. In any event, a high-speed spiral with two engines out would seem to be recoverable even with the effects of assymetrical thrust. If they were in a spiral, the recovery credit being given to the engine restart mystifies me for a couple of reasons: The immediate effect of bringing the engine out of feather for an airstart would have increased the drag on the left side significantly and tightened the spiral. (I remember a figure of about 20,000 HP being extracted from the airstream to windmill an engine at 100%. The T-56 does not produce positive HP until its onspeed at 100%) Second, with two engines at max power and heading down at high speed, the last thing needed is another engine at max power.
There's an article in Approach magazine about a similar incident many years ago. But, this crew did everything right during the recovery.
http://www.safetycenter.navy.mil/media/approach/issues/novdec05/pdf/We_Just_Spun.pdf