Assuming that the power shaft rotates steadily, the failed drive will be within the Apron.
Within the Apron, the gear driving the shaft with the integral pinion that engages with the rack is pinned to the 16mm dia shaft.
It might be that this pin has sheared.
The shaft, with its integral pinion is not the strongest of material, and bends easily.
My lathe , like the Craftsman and Warco BH600, is an Engineers ToolRoom BL12-24, all to the same design as a generic Taiwanese lathe.
When I had problems, Geoff Halstead (Oubaillie) kindly gave instructions on how to remove the Apron (It is heavy)
If you want, PM me with an E mail Address, and I will send you some details.
Having driven out the rollpins in the drive to the power shaft, and the Leadscrew, replace them with brass shearpins, 5 mm diameter with a 2.5 central drilling. This will be quite strong enough to provide a drive, but weak enough to shear in the event of any crash.
To rewmove the power shaft, you will need to remove the Leadscrew, and switch shaft, including the bearing block at the tailstock end of the bed. That will be difficult to remove as it locates to the bed with two rollpins.
Ensure that the keyway in the power shaft is at the top, before removing it.
DO NOT disturb the four setscrews retaining the worm housing on the back of the Apron. The capscrews are almost inaccessible!
HTH
Howard