Depends on the policy of the shop, but generally if it is "yellow tagged" or otherwise certified as serviceable, that condition is valid for as long as it takes the ink to dry. After it leaves the control of the mechanic, all bets are off.
Remember that there is a difference between running a business (customer relations) and the legal requirement for maintenance/inspection. Strictly speaking, it is possible to have a component failure immediately after overhaul. I'm not aware of any FAA requirement to guarantee a warranty period.
Tony, really do your homework on this one! I had an FAA certified prop shop in Florida overhaul my big, 110" Hartzell three blade on my Air Tractor. The first thing was..."These blades can't be yellow-tagged because they're too thin!" What? Yep, blades wear down and mine were a few thousandths too thin...scrap. Three new blades...discounted from $12,000 to $10,000...whoopeee, what a savings.
The airplane shook so badly after the A@P installed the prop, that it ruined the gearbox by the end of the season. My bad for not taking it off sooner....another $66,000 rebuild
All prop shops are definitely not equal, so check around your area with other A@P's and ask around...your best bet.