Yes, since only Hezzy is protected.
Isaiah protects Hezzy, so your opponent can do nothing to him. There is nothing that is protecting Isaiah, so he has to go back.
That's not why this works, per se. 12FG negates banding, it doesn't return characters at all. Isaiah was brought in via a band, so he is kicked out when Hezzy's band is negated.
Protection does nothing about negation, negate can still work even if you are protected.
