Good points. Someone mentioned the mentality aspect and I agree. I'll take it a bit further and say due to his religious beliefs "gods will" and all maybe when he lost it shook his faith or his belief in being God's warrior.
The game plan he had wasn't good at all but come to think of it, he does always go in with the same game plan. Brawling with Dan at the start of the first round is suicide, everyone knows that. You have to tire Hendo first.
If your a believer and get shocked with a lose, and say that I'm no longer Gods Worrier? Then I don't think your a believer ! Faith means you believe in God in whats Good and What appears to you as Bad. Not seeking only good things. Plus, who knows, it might be for his sake he had those loses.
Hendo is a great fighter, that is a fact, and for me he is a true legend of the sport. But, if only Fedor had a good game plan, he could of took him out without the need to tier him down.