Handling Emergency Situations - how do you do it

[Seldum]

In general if my tank dies fairly fast in a fight its usually a wipe. But if its nearing the end of a fight I keep fighting on with the rest of the toons.

I run 5 druids and my ohshit button is "8" on all chars.

It pops relevant trinkets (I had one which absorbed 1500 melee damage on the tank), survival of the fittest on the tank I think its called (rage into health), lifebloom etc., all dps chars drop out of boomkinform and cast rejuv on the tank.... if it looks like an incomming wipe to many mobs to handle and the tank is about to die I use hurricane (pushes mobs away) and run of with one of my dps (with the lowest threath) and use shadowmeld in a safespot so I can rez the party - dosen't always work lol

[Akoko]

With my druid team, I use a conditional macro so that the next druid switches into bear form if the preceding tank is dead.

[Zektar]

I run a mixed team (Prot Paladin, Moonkin, Shadow Priest, Arcane Mage, Resto Shaman) and my oh shit button is, as above , release & run.

If what's killing me is just a really tough fight rather than me messing up, I tend to write macro's for the fight specifically (as required for Herald Volajz), using all their unique abilities as appropriate per fight.