The two big fights that come to mind are:
Kimbo vs. Ken Shamrock/Seth Petruzelli
Rick Story vs. Charlie Brenneman
Now this is definitely not an apples to apples comparison...
9 days notice versus day before/same day notice
Jon Jones is arguably the best fighter in the world
etc etc.
With that said in both of these cases the heavily favored fighter ended up losing. I know there are other big fights that happened under extreme short notice that i'm forgetting.
I don't know if it's accurate to say Kimbo was "heavily favored" over Shamrock.
TheDigitalRuler - I don't know if it's accurate to say Kimbo was "heavily favored" over Shamrock.
I thought he was but I could be wrong.
8 days for Bisping to fight Sonnen