This bug is present in 2.6 (i tested d49f698b). Start one of the hm2-stepper sample configs, then use halcmd to set the watchdog timeout to less than the servo period.
The hm2 driver logs a "timeout dangerously short" warning, followed immediately by a watchdog bite. But the program keeps running in Axis without any apparent problem. I'd expect the machine to estop immediately on hm2 watchdog bite.
Fixed by Jeff Epler in 2.6, in commits 9f7f497807aaf858c34f6e49e5c4340872bb1fed and 186159951d05a933971f0ae7ba9903498bc287d4.