Sounds like a wide open throttle situation to me. Runaway usually means the combustion is burning oil, literally eating itself to distruction.
Well several yrs ago I had several injection pumps that I had accumulated over time.
I had my '94 factory turboed engine mounted still in the donor truck frame. I was checking & testing the engine before I stuck it in Bessie, my '90 F350.
Had electric pump rigged up, pulling fuel from 5gal jug, gauges rigged up, radiator, no turbo on it, straight exhaust rigged, etc etc.
Anyway I decided to ck out all those injection pumps I had. 4 of them were good running so I marked them & stuck them back for spares. Bunch if then didn't run/sound so good so I marked & stuck them in a different corner.
During checking & running all those pumps I had 3-4 that ran away really wild & hi screaming. Things got really interesting while i ran around trying to get them shut down. Yanking wires, pulling hose out of fuel can, yelling & screaming at all those fine folks whose name started with a B or S or F.......(BTW I was there by myself)
Anyway my point, I finally got that turbo engine stuck in Bessie & bout 100K on her since. Runaway pumps didn't hurt the engine, just got me really excited during all the action & noise.