I had a similar situation happen while diving the Blue Corner in Palau. While filming a shark at about 100', an aluminum bottle used for positive buoyancy on the video camera imploded. Stunning me, the force of the blast knocked my mask off, and the regulator out of my mouth. Unknowingly I was in a down current. I caught the mask and eventually found the regulator on my left side. When I checked the depth, I had passed 200', even though I was kicking up as hard as I could. Thoughts at that time were very clear, "This is how divers die". In reality it took me 5 - 10 seconds to inflate the bc to the point where the downward plunge stopped. Now I began to worry about becoming a Polaris Missile, and started venting the bc, eventually stopping at 30'. I had been down about 5-7 minutes and with the buoyancy problems, depth and my hyperventilation was down to less than 1000 psi. I made the next 500 last while I made a 20 minute deco and mental health break at 15 feet. What I learned was 1) NO video is worth the danger getting, and the trouble it can get you into. 2) Although there was no current on the top, I hadn't paid attention as I entered a downward flow. 3) Time practicing finding my reg was well spent. If I hadn't reflexively grabbed for the first stage I probably would have not been able to find the second stage in time. 4) Getting the bc filled asap and then making sure that the ascent is controlled. 5) Taking a real time out to analyze what had happened, and the share with others what happened and why.
Hope this is of help to others.