Akimbo, that would be, in product safety lingo, a catastrophic single-point failure which would lead in this configuration to loss of gas supply. However, the safe second would still function as the gas supply diminished.
Also, you need to look at where in the sequence of events this is likely to occur. I have never seen it happen in 50+ years of diving. I have had "significant impacts" with the water during parascuba jumps, and never seen this happen too. You have seen it twice, as a result of what must be significant impact. By that description, it would most likely occur on the surface, either entering or exiting the water. Here, normal emergency procedures would be to drop weights and stay on the surface, perhaps with a snorkel in one's mouth. The likelyhood of this happening at depth is pretty low, IMO.
SeaRat
Also, you need to look at where in the sequence of events this is likely to occur. I have never seen it happen in 50+ years of diving. I have had "significant impacts" with the water during parascuba jumps, and never seen this happen too. You have seen it twice, as a result of what must be significant impact. By that description, it would most likely occur on the surface, either entering or exiting the water. Here, normal emergency procedures would be to drop weights and stay on the surface, perhaps with a snorkel in one's mouth. The likelyhood of this happening at depth is pretty low, IMO.
SeaRat