Notice early in the video there is a sequence showing a F-111 dumping fuel with the afterburners on lighting up the night sky. Something unique to the F-111.
I don't know if metal fatigue was a factor in this accident but they are fortunate the wheel fell off upon liftoff and not while accelerating down the runway in full afterburner.
Using the tail hook to catch the arresting cable was a great idea, as you will see. Arresting wires on runways are not like the ones on the flight deck of a carrier. They provide less resistance and let you decelerate over about a 900 ft. Range, something you wouldn't have room to do on a carrier.