2. Getting negative as the tank floods with water is another risk a catastrophic failure can cause. The buoyancy shift is dramatic and I haven't heard it addressed.
Interesting... the buoyancy change would be about 20 pounds to the negative, give or take a few pounds, depending on the size of the tank. Unless you're wearing 20 pound of ditchable weight that could be dropped to compensate, might have to ditch the tank itself.
Of course the time needed for the tank to fully flood would be much much greater than the few minutes it would take you to reach the surface.