I've witnessed 4 people not including myself..so 5 people tear silicone seals on the boat. I guess it's a small percentage but still enough to make me wary of silicone seals. While I find them more comfortable and stretchy, I don't find them to be a durable as latex.
Here are my personal experiences with both, for what it's worth. I use DUI ZipSeals and have them both in latex and silicone so they're replaceable in the field.
Silicone
Pros
-More stretchy
-More resistant to UV/sun exposure or oils from skin (so I've heard..)
-Good for people with latex allergies
Cons
-Attract more dirt/grit
-Tear far easily than latex
-Softer so in theory can scratch/rip more easily
Latex
Pros
-Last longer if properly cared for (don't over stretch them, don't leave in sun, and clean with soap/water, talc them often)
-I've found them more durable, they don't attract grit/sand as much as silicone
Cons
-Not at stretchy
-Bad for people with latex allergies (obvious)
-Bad for people with well defined wrist tendons (leaks)
-Less resistant to UV/sun and oils (basically they won't hold up as long if you leave your suit in the sun or don't clean suit after exposure to oils from skin or whatever was in the water)