I think you may have answered your question there.
If the bass notes were making a speaker vibrate, I suggest that the actual notes were so low they were beyond the capability of the speakers to reproduce and maybe so low that they were inaudible to the human ear. They may, however, be within the range of the induction mic but would be "translated" as best it could. The putty should have absorbed any physical vibration but it's possible that the low notes could be causing the mic to vibrate as well.
Like any mic (or speaker), the induction mic has a frequency limitation and maybe those low bass notes were just outside it.
Yes, a thump will be recorded because it will cause a movement of the magnet inside so it's not the sound of the fall that's recorded, it's the movement of the magnet which it translates into a sound (usually a low one because it's a slow movement) - if you follow.
There's some interesting possibilities there.
I wonder if one could wind a mic with a greater frequency response?
After all telephones don't have that good a sound, do they?
Wish I knew more about electronics!
Maybe get a spare mic and compare how they each work (bad mics do exist) with some very low bass notes on your Hi-Fi.
Now there's a possibility for a University paper
