The canister would have to be mounted to the side - the center of my three aircraft are populated with the F.C.. And I have a GPA mast, video transmitter, telemetry.... position would be an issue, not to mention balancing to get the C/G back where it should.
And then there's the issue of the nature of the failure - if the copter pitches over, you can't predict what side it's going to go over on - the chute can easily get tangled in the props.
Did you notice in the video that the copter landed in a field with lots of cushioning vegetation?