I did get hit and killed by it, but only while learning how to use the grenades appropriately.
The thing with the tentacles is that when you throw a grenade, one of the heads will directly hit the spot that it exploded at, another will strike just slightly to the right of it, maybe 10 degrees, and the 3rd will be about 70-80 degrees to the left of the first one. So if you throw a grenade at some spot away from you on the same level, there’s a good chance that the 3rd head will still strike you.
The real way to handle this is to throw grenades onto different levels, then there’s no chance it’ll hurt you at all.
Going down the silo is therefore easy, as you can simply throw it a level or two below where you need to be (and break up the wooden boards with grenades from a distance, too). Coming back up from the bottom is a lot harder though, as you’re not able to throw grenades to the level above. In the end, I found throwing a grenade and simply sprinting the easiest way to get back to the top.
It’s a pity BM doesn’t have walking like HL1 did, as that is the ‘proper’ way to finish this section (not crouching, although crouching up/down HL1 ladders lets you climb them silently, whereas walking didn’t).