Judging from their site, I think it should be OK:
"You won't be charged Fable prices for rerouted requests. Learn more about how the fallback experience works."
https://www.anthropic.com/claude/fable Under "Safeguards"
And what happens if you also get blocked by Opus?
I couldn't find if they refund the tokens for that session or the customer is SOL.
This has no mention of what happens to the prompt cache, including the "learn more" link.
Knowing Anthropic, it wouldn't surprise me if it will result in a full cache miss/rewrite at fallback, with potentially up to 1M tokens in the context window.