I should also say that using a slung bottle in that manner is in the context of a long hose and bungeed backup. An OOG diver will always get what is my mouth. Therefore I need not worry too much if any other bottle I might carry is instantly ready to be offered to a OOG diver.
If I'm breathing from the slung bottle, then of course the valve is open, but here too the OOG diver gets the reg in my mouth, i.e. a known good functioning regulator.
As the donating diver I have plenty of time to find other gas, the OOG diver maybe seconds from inhaling water.
Tobin