The professional approach is to temporarily cut to another camera angle on the scene for a moment.
I know of no other way.
If you do not have a "cut-away," as Steve mentions, then with those problem Frames removed, I would add a Cross-Dissolve between the two Clips (two Clips, after you have cut out the offending footage), BUT, one thing to consider with any Dissolve Transition, is Handles. You need enough to allow for the Transition - so you might need to Trim the first Clip a few Frames more, and the following Clip, a few Frames less. For a bit more on Handles, see this article: http://forums.adobe.com/message/3727485#3727485
Good luck, and hope that helps.
Steve G. and Bill H.,
Thanks for the quick answers. Cut-away would have been a bit difficult--the subject was a moving lobster boat about 1/4 mile offshore. And in any event the moment is gone.
The visual hiccup is very slight, since the boat didn't move that far in the interim and the only other motion was random changes in the surface of the sea due to a weak swell and minor texture movement due to a light wind. I suspect that a dissolve might call more attention to it, so I might just let it go. But I'll definitely try that approach.
I'll take a look at the article--thanks again.