Yes, freeflowing second stage. In this case, air also leaked past the diaphragm which made it poke out, and a few bubbles were coming up from around that oring as well, but not many.
I had to replace the seat on the second stage as well, I believe it got damaged by the failure, but that is a 5 minute repair job, the Hog second stages are really easy to work on.
The HP seat is replaceable in every reg I know of, it's a part that usually gets replaced when regs are serviced. It's no biggie, sometimes stuff happens you know? I have been impressed by the quality of the Hog regulators, so this one minor failure doesn't bother me much. Could have happened to any of my regs. I had a Miflex HP hose develop a small leak (and it did it rather loudly, sounded like a gunshot) the week before, but that doesn't stop me from liking my Miflex hoses