The diver is confused why his main tank has stopped working (especially when his guage says full) but spits out the reg, fumbles a little, and attempts to switch over to his pony reg. Of course this is the same reg he has breathed down to nothing, and after the "switch" he gets no air, but by now the the diver is totally confused, can't figure it out and drowns or shoots for the surface.
One fatality here last year due to exactly that (drowned) and over last 3 years have been several evacuations due to rapid ascents from it as well. Sadly it seems no matter what precautions people take with hoses in the stress of the moment mistakes are being made. Colour coding is unreliable in lots of conditions, mouthpiece feel isn't great either. Routing is not always easy to trace especially when you need it rapidly and so on.
Also i really dislike people ditching an octopus and making the buddy use the pony instead thus limiting them to a much smaller volume of gas - at the time when their breathing rate is likely to be huge.