Third person report, of course. However I've had a cave instructor tell me he has had it happen to him. The story was big fill on a cold morning with say 40 degree air. Jump into the water with an overfilled tank and the temperature instantly increases by about 30 degrees (72 degree spring water) and pop. Obviously, in FL that's a winter only scenario.Some cave divers seek to abrogate the safety factors of an Overpressure relief valve in the mistaken (in my mind) belief that there is a real possibility of this valve releasing underwater inside a cave.
I don't think I've ever heard him (or anyone else for that matter) advocate eliminating burst discs. Increasing the capacity of disks, yes. For example some guys put discs for 3000psi tanks into lp 2400psi tanks.