OK...so it did break after all.
It would appear that the import operation is treated as a single unit of work. It failed with an interesting error.
The DB2 layer reported a log exhausted condition...amusingly though both the TSM admin interface and the DB2 sysibmadm tables reported that there was plenty of active log space (halfway through its first extent or 15).
So - my conjecture is that the triggered incremental backup cleared down the active logs BUT the unit of work still wouldn't fit within the total active log space. Neither the database manager, the database nor the TSM instance crashed - but the import operation did go belly-up. I still can't see why the db2 log manager removed the active logs given that the unit of work was still active - way beyond my current DB2 knowledge.
In a nutshell - triggered backups aren't useful to protect individual large units of work. They may do some good in protecting the server as a whole (not proven, but likely), but they also generate a misleading condition/error under certain conditions.
Addendum...I guess its just me 
edit: thought I'd add some more specific data
When the transaction aborted the environment state was:
actlog mesages
Code:
ANR0130E dbieval.c(840): Server LOG space exhausted.
ANR0162W Supplemental database diagnostic information: -1:40003:-1224 ([IBM][CLI Driver] SQL1224N The database manager is not able to accept new requests, has terminated all requests in progress, or has terminated your particular request due to an error or a force interrupt. SQLSTATE=55032)
SQL error
SQL1224N... likely issued because the import task exceeded the DB2 max_log parameter (maximum primary log space for a single unit of work)... seems to be set to 90% either by default DB2 or TSM config ops.
DB2 log utilisation at crash time
Code:
@PTSMP3D1 / PTSMP3D1@TSMDB1 > select FIRST_ACTIVE_LOG as "First", CURRENT_ACTIVE_LOG as "Current", LAST_ACTIVE_LOG as "Last" from sysibmadm.snapdetaillog
First Current Last
-------------------- -------------------- --------------------
159 159 173
TSM view of log utilisation at crash time
Code:
tsm: PTSMP3D1>q log
Total Used Free
Space(MB) Space(MB) Space(MB)
--------- --------- ---------
7,680 274.41 7,375.59
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