it might also be important to look at the cef traces and cef events why it skipped processing the BGP update.
technically, with floating static like you have it should just work like you describe, but there may be a criteria met that prevented the bgp link to come back in as perferred path.
show cef table events would help here, also look at the bgp prefix update time and correlate that to the cef event.
looking at the bare outputs you have there I think the crux is part of the fact that it looks like your OSPF next hop is recursive (with nh in different vrf) and the static is non recursive (next hop in same vrf).
that could mean that the cef didn't collapse properly after this event as normally for primary and backup paths they need to have the same route depth (recursions). but it could be something also that rcochenos is alluding to in terms of a bug, hence release may matter here.
would first fix the recursion and looking at the table events for clues.
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loadbalancing is one of the more complex items in hardware forwarding. of course we have talked about it many years on cisco live (id 2904) with ever incrementing more detail. and there is the support forum article on loadbalancing.
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