It's a great discussion touching on a lot of areas.
It appears that several people have real-world experience that suggests that the missing 3rd phase will have a generated voltage almost identical to what it would be if you had 3-phase voltage applied (120 degrees apart and same magnitude as other 3 phases). I cannot dispute that, but I still do not understand the explanation proposed above.
The explanation proposed is that the induced voltage on the 3rd phase arises from the rotor field. I agree that the rotor field is rotating at sync speed but I don't see that it should be important in this problem.
Let's go back to the basic model of a [balanced] induction motor, neglecting leakage reactance. The air-gap flux is established by the stator exciting current (which lags stator voltage by 90 degrees in time). That air-gap flux is NOT affected by the rotor field. How can that be? Very simply that any current flowing in the rotor is balanced by an equal-opposite (on an amp-turn basis) load current in the stator.
If you don't believe me look at the model. Istator=Im+Irotor. The stator current contains two components: one Im which established the magnetizing field and one Irotor (referred to the stator) which is the load current which exactly cancels the effect of the rotor field.
If that much doesn't make sense then look at the load dependence. As load increases Irotor increases and Brotor increases, but airgap flux does not change (again neglecting leakage reactance). The reason airgap flux does not change is because the increase in Irotor and Brotor is exactly cancelled by a load-component of the stator current and associated field.
I'll admit that the above is based on balanced conditions. Which parts of it do not apply during the serverly-unbalanced single-phase conditions requires much careful thought (more than I am capable of at the moment).
But the bottom line is that simple analysis suggests that rotor field has nothing to do with the airgap flux which links the stator. What establishes the airgap flux is the exciting component of the stator current.
Looking at stator exciting flux alone I see no reason why any significant voltage would be created as discussed above. Above I analysed 2-pole scenario with pole-phase groups a, b', c, a', b, c', with C phase missing. To add clarity to that analysis, consider that b must be equal an opposite to a (any current flowing in b must flow in opposite direciton in a... assuming wye connection). On that basis substitute a' for ever b and a for every b'. We will see the sequence of pole phase groups is a, a, c, a', a', c'. and if we add additional poles beyond two the sequence will repeat.
These letters represent the physical location of the coils as we move around the stator. It should be obvious from the sequence a, a, c, a', a', c', a, a, c, a', a', c' etc that there is a symmetry which would tend to prevent inducing any voltage in c since it is in equal proximity to a and a'. The same applies to c'.
I don't dispute the contention that the missing 3rd phase voltage is "regenerated" but I certainly don't understand why it should be so.