I agree with 'buff'...but have an extra point to make:
I just bought a used Poseidon Odin from a dive shop in MA, (it is undergoing a complete overhaul by a Poseidon expert with 15 years experience) as I hope to one day get into UW still and video photography.
I suppose if you are only doing still photography, holding your breath momentarily would work, but that's a dangerous habit...I have read of photographers in open water (without a frame-of-reference for orientation) who have held their breath and died, as they changed depth without realizing it, being absorbed in their photography.
If you do video, holding your breath isn't an option anyway, sooner or later your bubbles will ruin your shoot...and even if you only stick to still photography, it's very unpleasant to be swimming after a subject, perhaps really exerting major physical effort, and then have to fight to stop breathing while shooting.
UW photography is supposed to be fun....not being able to breathe whenever you want takes the fun out of it.
The Odin 2nd stage is relatively long, longer than the 2nd stage of the Oceanic Omega, ot the Dacor Viper, so it really exhausts your bubbles off to one side, better than any other regulator I'm aware of.... (other than the 'vintage' twinhose regulators......of which I have 9).
I want to be able to focus on my subject, and ignore breathing issues.
Hope this helps!