The failed part could have been a nuisance failure, but have you confirmed the 12V neg regulator is ok, and that the load current on it is "nominal" at 12V - ie. have you confirmed there is no other failed circuitry?
The original part would have been smaller and cheaper than any fuse at that time, but the designers likely determined that the upstream capability, even with 400-500mA fuse would not have avoided the R288 from destructing itself for some common faults. Although the part is termed 'fusible', its feature is that it won't flame under any overload - whether it open's or not is a secondary issue.
If the original part is 0.25W and 68 ohm, then that indicates nominal feed current is noticeably below 60mA (ie. 4V drop). The part would only reach fusible conditions at likely 10x the 60mA capability (ie. 0.6A), and that level may not take out the upstream fuse for at least an hour, depending on characteristic and how high the over-current ratio is, and whether the fault was downstream of the regulator and the regulator was current limiting or going in to thermal shutdown.
Perhaps check the nominal overvoltage available to the regulator, as you may be able to install a 91 or 100 ohm nfr25 part, and so operate it at near the original conditions as far as rated resistor wattage is concerned. Also note the height above the pcb that the original part was installed.