No, he didn't get it. Although the dive looked quite heroic, he didn't really even come close to retrieving it. The water was still very chilly at the time and as soon as he hit the water he pulled up. Not to mention that when he dove the rod was already out of sight. It was not only sinking fast, but heading away from the boat fast. If you listen closely at the end of the video you can hear him trying to catch his breath, after the shock of the cold water.
@streetwalker The Driftmaster rod holders have been fine for me (except this one time). I think this was more of an operator error type situation. The rod was only in the holder by a fraction of an inch.