Nah. Wouldn't read comics as a result, certainly wouldn't do it at home!

Rather just start from scratch again.

I've never done it, for some of the reasons already mentioned (though it's a fascinating and interesting question!).

One thing that we did that was almost similar:

My current V&V campaign (that we only play rarely on anymore) was already something like a decade old, when we got the opportunity to playtest Living Legends for Jeff Dee.

We didn't want to have it be part of our V&V campaign, partly because we were playtesting and wanted to have the freedom to try wacky things and really stretch and push at the boundaries of the rules.

So we set the new LL campaign in our home area (something I've never done in V&V) of Seattle and made new characters.

So sometimes we'd play V&V (with the Guardians), and other times we'd play Living Legends (the Pacific Knights).

Around that time we played through the campaign-shattering "Dawn of the Devil", which caused the PCs to go on a multi-year epic quest into space after seeing the Earth destroyed.  They had adventures for years across the galaxy, and eventually reached the Black Eye of Qwun, who magically restored the Earth.  But years had gone by (in the V&V campaign) when our heroes were gone, not having adventured on Earth at all during that time.

And after a few years of playing and playtesting Living Legends, we drew that campaign to a close.  one of my players/GMs came up with the brilliant idea to have the LL campaign be events that happened during the "Missing Years" that ended up getting reset when the Eye of Qwun 'restored' everything.  Of course there were also some other wacky, inter-dimensional adventures the heroes had to undertake to restore space/time as the ramifications of the 'reset' rippled out through the cosmos.

So the events of our LL campaign happened, sort of.  But there's no record of them and nobody has any memory of them, and there's only been a character or two with a name that hearkens back to that LL campaign.