I don't know of any published limits for Argon. It is inert, like Nitrogen. For open circuit I could care less. It was something pretty much glossed over in my Nitrox class. Normal Nitrox is used relatively shallow, there is only a little bit blended into air. Running a little extra Argon, you might get 2%, doesn't really change anything. A Nitrox mix so strong that you have 2% will be so depth limited you are not close to getting narced.
But for a rebreather things get different. The oxygen is to replace what you metabolize. If you are putting 5% Argon in with your Oxygen (That is what you should expect as you remove the 79% (call it 80% for easy math) Nitrogen and you have Oxygen and Argon now 5X stronger). So 5% of your oxygen is Argon, you burn the Oxygen but leave the Argon. Add more Oxygen/Argon. Pretty soon the Argon in the loop can be a rather significant percentage. If you are running Helium as an anti-narcotic gas, but silently a heavily narcotic Argon into the mix, I am not comfortable with that. The flush every 15 minutes advise, hope you remember before you get narced and forget to. I would rather just use a 100% if I can. I only know of one rebreather (Liberty) that run helium sensors, everything else just uses a little math and you program the trimix in the Diluent bottle and Oxygen is the variable measured with Oxygen sensors. IF you start blending another gas into the mix, the rebreather still knows how much oxygen is in the mix but the computer doesn't know the Nitrogen/Helium/and now more then a trace of Argon in a variable amount that changes depending on how recently you have flushed the loop.
It isn't that it is heavy. There is plenty of velocity in the lungs to expel Argon you inhale. It isn't going to magicly settle and not be able to get it out. SF6 (Sulfur Hexafluoride) is really dense and there are plenty of YouTube videos of people breathing that in for the deep base voice (opposite of Helium) and they are not doing handstands to expel it when they are done. Couple of breaths and back to a normal voice, the gas is gone. Even Propane is a simple asphyxiant, just happens to be flammable. If it is a gas, it will vent out the lungs just fine. When you get into liquids in the lungs, that is a problem. Or if there isn't enough Oxygen in the gas.