It looks like an instinctive 'head up' on Holmatro almost cost them a dunking too...
If you look closely on video2 Holmatro actually bore away and started to dig in. They had a better initial angle (and sheeting) to the gust (which hit Alinghi first), this enabled them to reduce pressure on the leeward hull by luffing. It appears to have also let them keep boatspeed and get away with the pendulum effect of the mast. I suspect if they had kept low they would have stuffed it too.
Cheshirecatman