Hmm. Do you know if you saved the point link when the event was active, and that's when it returned to normal?
I do think it's possible for a point link to get stuck thinking it's running. I think it would have to be an exception in the PointLinkRT's execute method. I'm not sure where one could produce such an error, but I will do some checking. I would have expected an error in your log like, "Uncaught exception in work item" and that the PointLinkRT's execute method will appear in the stack trace.
Otherwise, it could be that two point events for the source series were running at the same moment and the error about not being able to run the point link again is incidental to not having set the value to the device. If the modbus connection was simply down AND two events got queued at the same time, we could expect what you're describing. There would have been a data source event for the set point failure.