Mine did not come off during the dive, but it did come off while on the dive boat. We found some parts on the deck and the divemaster looked at everyone's BC before the dive, but did not see that the parts were from my BC. We suited up and bailed off the back of the boat. I usually drop to about 20 feet before I start inflating my BC, so about 20' down I pushed the inflator button lightly a couple of times and nothing happened. I pushed and held the inflator button and immediately heard air escaping, then I knew where the parts on the boat came from.
I signaled the dive master and he came to inspect my problem, and asked if I was O.K. I signaled back yes I was O.K. and we continued the dive. The depth was not over 50 ft and we had a flat bottom so I stayed about 15 feet above the group and my dive buddy because naturally I was a bit heavy with no air in my BC. When my air tank hit 1500 psi I was fairly neutral after that. If I had been over weighted I would have never been able to do the dive.
This happened in Cozumel. After we got back to the dock the dive op sent someone to the dive shop in town for parts. We needed the plastic cap, and rubber flapper valve, and a spring. They installed the parts and would not take any money for the parts or repair. Pretty great service from Dive Paradise.
I did not consider this to be an equipment failure. I considered it to be a failure from me to maintain and inspect my gear.