It sounds on the face of it that the bolt on the caliper was stripped at the time of the WOF. But if it was in place, and not actually loose, the mechanic would have been hard pressed to find it. Especially considering he is not allowed to dismantle things. (Its a visual inspection.) The forces on the caliper are at 90 degrees to the way the bolt goes. So unless the bolt was actually falling out, it would have seemed fine.
Plus, it could be that the car passed a WOF, and had someone subsequently fiddle with it.
The only comeback I think you have is with the seller. Even then, its a hard row as they say....but if the mechanic has offered to pay for repairs grab the loot..
Good luck, no one got hurt so could be a lot worse.
David must play fair with the other kids, even the idiots.
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