Having removed *.co.cc from their index, is Google going to continue to index it? There doesn't seem to be any reason for them to do so (they would just be throwing the information away), and if they don't then they would never become aware of the 301 redirect.
You know how Dropbox accidentally sent out DMCA notifications to someone because that was an unexpected side effect of using an internal tool to take down a particular file out of a public Dropbox? It may be the case that Google engineers are fully cognizant of the side effects of their internal tools, and they may never have unintended consequences or room for optimization.
A lot of SEO comes down to risk/reward guesstimations. Heads, Google does what you think would be optimal and you get a wee bit of extra juice to your newly un-burned website. Tails, Google hired a human at some point and you're on your third website this week.
I generally get paid to advise companies for whom losing the website is sort of a big deal, so I'm fairly risk adverse with these things. I know folks with different models.
