F-16 CAPs (Critical Action Procedures)
If memory serves, circa 1994, the CAP for Engine Failure or Malfunction on Takeoff (not necessarily verbatim, but intent is correct):
1. Aircraft-Zoom
2. Stores-Jettison
3. If Engine not Recoverable: Eject
Sounds like this pilot had an engine problem on takeoff, and he accomplished the first two steps of the CAP. Then, he got the engine back and landed.
Not saying for sure....but sounds like it.