I'll apologize for the tone in advance....
In an OOA emergency a paniced diver is likely going to grab the reg from your mouth, not search for an octopus
Oh, please! In a real out of air emergency, the panicked diver will go for what he can get. A brightly colored alternate air source on a slightly longer hose is clearly visible and attractive to a diver needing air. If the Alternate has the hose attachement on the opposite side, it makes sharing easier, and it makes controlling the ascent MUCH easier. It also allows the team to head for the ascent point, since the sharing diver has a straight hose and the two can comfortably swim side by side.
Now, before I get flamed by everyone and start an argument, bear in mind that I have taken somewhere around 100,000 people diving, and have had to share my air a couple of hundred times in real situations, not the made up, I imagine, sort of thing that most divers, and training organizations discuss.
To answer the original question, at least one agency, NASDS, taught primary on right, Octo on left. I know several left handers that still use this. It has the advantage of giving the recipient a smooth single curved hose, instead of a double curve, which puts the team too close together and pulls on the mouthpiece adding to the general anxiety.
If anyone wants my opinion, the best rig for OPEN water diving, and I am not talking to the cave/tech crowd, the best rig for a dive leader is;
primary on right
Alternate air source on right, with the alternate having a left hand hose attachment, and a 40" yellow hose. The alternate should be clipped in a visible, easily accessable spot.
Sherwood used to make a left hand alternate, they now will only make them as special order in quantity. Aqualung's Calypso can be reversed, very simply, by any tech.
In a real OOA situation, the panicked diver is most likely to refuse all help and try to get to the surface, fast.