I very much doubt its a mechanical failure with the turbo. If the turbo has thrown a blade, it wouldnt work for 10 mins and then die.If somethings come off it wont work period.
Not really. It is extremely rare for a turbo to "throw a blade" - if they ever do, then the turbo would suffer catastrophic failure, and the damage would be very visible.
But it is fairly common for the VNT turbos to seize up their VNT mechanisms. This wouldn't and/or shouldn't be apparant or noticeable when starting from cold, as you should only use the engine gently whilst cold. Only after the engine has reached normal operating temperature, will you start to boot it and give it some beans - and this is when the VNT will be at its most "active". The VNT mechanism works along the same lines as any other actuator, in that the ECU instructs it to "work", and after the item has "worked", a signal is sent back to the ECU to confirm that it is working OK. If the ECU doesnt get the "I'm working fine command", that is when the ECU can then change to "limp home mode".
Sounds more like some kinda sensor failure causing the car to go into limp home mode.
Yup, that too.
Im sure it wont be as bad as "MR No it All" AA spare part in yellow Uniform says.
Agreed. I never trust those types.
Do report for us after your visit to the dealer. 
Yup, we need to know!
