I don't like having to reference another book in the core, even if it's one almost all of us have. It's messy.
I don't think my opinion is too biased by the fact I done use the Lab Modification rules.
So, were somewhat explicitly turning the Story and Special into a negative result with possible side positive, instead of an amorphous with implied positive.
If that was the original intent, okay... But I will point out that before it didn't cause the experiment to fail.
If you are removing the possibility of death, perhaps they should acquire a major flaw instead.
Sounds like a Laurel and Hardy scene developing in a lab. With the story event concluding it. 
"Pick one". However, now that you say that, I do think it might be better to have a positive easy result as well.
It is narratively appropriate. The other covenant members rush to the lab to find the lab devastated, the magus completely unharmed and just out of Twilight, and signs that something fled the scene while the magus was elsewhere.
Here is a revised proposal.
You fail miserably. Consult the following table for the result, depending on the number of zeroes rolled on the botch dice. Suffer the effect for the number you roll and for all lower numbers, unless explicitly told otherwise. For example, an explosion (3) also destroys the creation and inflicts Warping Points on the magus.
Zeroes Result
1 Everyone in the lab gains Warping Points equal to the number of zeroes on the botch roll. Hermetic magi (and anyone else opened to the Hermetic Arts) must roll for Twilight if they gain two or more; members of other traditions may also suffer serious effects, as determined by their tradition. The season is completely wasted; see Complete Failure. If there are other results and magi choose not to resist Twilight, they enter Twilight before the effects occur, and thus avoid any personal damage.
2 Your creation is destroyed. If it is a single-season project, this is the same as a Complete Failure.
3 Your laboratory gains the Damaged Flaw.
4 Explosion! Your laboratory gains the Wrecked Flaw (instead of the Damaged Flaw), and anyone in the laboratory takes two Heavy Wounds.
5+ The storyguide picks one of the following.
A story event threatens the whole covenant. This may arise immediately from the explosion (a mundane fire, for example), or may be a lingering after-effect of the uncontrolled magic, causing a story some time later.
The explosion completely destroys the laboratory. The structure gains the Deformed and Unstable Flaws, and the whole laboratory must be rebuilt from nothing, rather than gaining the Wrecked Flaw. Anyone in the laboratory takes an additional Incapacitating Wound.
Special or Story Event (p. 109): Replace with the following:
The storyguide picks one of the following.
The creation requires additional raw vis. The magus must spend a number of additional pawns of vis that match the Technique or Form of the project equal to the magnitude of the effect (including modifications) plus the risk modifier. If he is unable to do so, either because he does not have the vis, or because he cannot handle enough vis in a single season, treat as a Complete Failure.
The magus also creates a spell, with the same Technique and Form as the project, of any level that he could create in a single season. The spell is designed by the storyguide or troupe, and need not have an obvious connection to the project. The magus knows it, and can write up the Lab Notes as normal. It is simpler if this spell does follow all the rules of Hermetic Magic, but that is not essential if the troupe is happy with the complications. Treat this as No Extraordinary Effects for the main project.
The creation is modified in some way that does not necessarily fall under the categories of Side Effect or Modified Effect, although it may if desired. This allows the storyguide to introduce any sort of supernatural effect — the creation could even be strongly affected by a different realm. The result may be positive or negative from the magus's perspective, but should be interesting for the troupe.
A story event happens. This can be anything; it could be used as an opportunity to introduce a major plot line, or as a brief and amusing distraction. It does not need to happen immediately; the uncontrolled magic might set something in motion, or it might be a result of using the creation in a particular context, some time later. The story event may be basically positive — the magus might attract the attention of a potential familiar, for example. Unless the story event requires otherwise, treat this as No Extraordinary Effects for the project itself.
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That is good, but i see one issue: the use of specific flaws from the Covenant book does mean that it is not "intelligible" to someone who has only the core book (where the tablemis located). While Wrecked and Damage can be explained as the number of seqsons to get it back in a fully useable condition, warping of the building that it contained would be less clear.
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"That will be fine," he said, mysteriously.
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If you decide to create a new supplement ("Stories for lab accidents"?) then the lab qualities can be repeated or expanded upon for context, and the reference ceases to be a problem.
If you decide to create a new supplement ("Stories for lab accidents"?) then the lab qualities can be repeated or expanded upon for context, and the reference ceases to be a problem.
Sounds like the sort of thing one could do if there was a community content programme or open licence.
Or if one's name were David Chart.
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Yeah. I'm eager to hear news about whether Atlas will move open source. But yeah, a new supplement would be great news. Or you know, a translation of that Spanish tribunal module 
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Or maybe a new core book, with the errata embedded, and maybe better organized, like maybe the covenant creation rules from Covenants, in the core book.
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Detailed lab experimentation rules for MAGIC SHOE confirmed!!!!!
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I'm ready and willing to give Atlas more Ars Magica money!
Just sayin!
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Could also be an added table to the Convenant book instead of errata to Core rulebook...
W