Fear llamas have run amok, but this calamity has not come to pass (5,5)
I believe the answer is:
false alarm
'run amok but this calamity has not come to pass' is the definition.
The definition suggests a singular noun which matches the answer.
'fear llamas' is the wordplay.
'fear llamas' anagrams to 'FALSE ALARM'.
However, I'm not sure how this is indicated.
'have' acts as a link.
Can you help me to learn more?
(Other definitions for false alarm that I've seen before include "Panic over" , "Warning proving unnecessary" , "unfounded scare?" .)