Races around after failure, causing alert (4,5)

I believe the answer is:

bomb scare

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'alert' is the definition.
I don't know anything about this answer so I can't tell whether this works.

'races around after failure' is the wordplay.
'around' indicates anagramming the letters.
'after' means one lot of letters go next to another.
'failure' becomes 'bomb' (bomb is a kind of failure).
'races' is an anagram of 'scare'.
'scare' after 'bomb' is 'BOMB SCARE'.

'causing' is the link.

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I've seen this clue in The Telegraph.

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