I know one of the DIP switches can turn off ALL baro sensors for a 'limp home mode'. But most ECU's will also automatically (and temporarily) ignore any individual sensor that, for example, reports 0 or 5 volts, and substitute a fair assumption. I would think that is a pretty good idea. I know of the term code bloat but I think this is not bloating..
For the O2 sensor, this is even more important. For that sensor, an alternative is to just detect "not changing at all" for a given time, and automatically go open loop. The default LC-1 settings is to go to high impedance state at warm up and at error conditions. I had it set to output 0 volts at error for easier noticing of problems. Last summer it errored out while I did some spirited riding in Germany, unfortunately in Autotune mode. I'm not sure how much it messed up my map before I noticed the very lean running.
After that I set it to output 5 volts at error instead, since a 25% rich mixture wont hurt the engine. A couple of days ago it errored out again and no harm done (this time I wasn't even in Autotune). Still, it would have been nice if the ECU would stop believing an O2 sensor that does not change at all in several seconds.
As a side note, the bike ran surprisingly well at 25% rich