Since all seems to be working, I agree with everyone else that you are ok.
From your car's perspective, the discharged battery would have been seen like a very big electrical load. Your alternator would have probably seen a voltage drop, and the regulator would have increased the field current to run it up to full output. If it's still working, then sounds like not fried. Everything else would have just seen the voltage drop, but not invert.
I think the greater chance for damage is the other car. Depending upon it's battery's state, it may have seen the voltage invert, which would have the greater potential for damage. On the Volvo, I could see that harming all of the various computers, and likely so any other reasonably modern car. OTOH, the resistance of the cables, and the clamps, and the connections at both ends, with the very high current load, may have been enough resistance to make it so the other car didn't go too negative for too long. If they drove off, then maybe they are ok, too.
Roger
'95 854T 259k miles
'93 945T 218k miles
'87 245 M47 299,500 miles and counting
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