this has happened to me before. it is aluminum oxidation, which in my experience as a VIP tec usually manifests itself as a fine white powder. this can get packed into the valve, or as in my case, packed into the filter of your first stage, especially those with cone shaped filters, blocking airflow. its even worse if the dip tube is missing, and the diver inverts himself underwater. I have only rarely seen this in the states, where tanks are vip, and only in old unmaintained tanks that havent been vip inyears. However, I have seen it several times in the caribbean, where tanks have no vip, and often out of hydro too. Theres no fail safe way to know without removing the valve and looking inside. Checking for a vip sticker helps, as it takes a lot of oxidation to be a problem (small amounts tend to stay stuck on the inside walls), but caribbean operations often dont vip, and even if a sticker is present, theres nothing stopping an operator from ordering a bunch of stickers and slapping them on tanks (Ive seen this all too often). Also check hydros, every time ive seen this, the tank was out of hydro too. Finally, when you set up, be sure to crack your valve open before connection a reg. Sometimes you will see the powder jet out, but only on the first opening of the valve. If you do have a problem while diving, be sure to check your first stage for powder clogging it or youll have problems the next dive, and again, crack your valve and look for the powder flying out (again, only noticeable the first time you crack it) and let the operation know.
Im glad to see this thread, its a pet peeve of mine. Last time it happen to me I was teaching, and when I stopped getting air, I immedialtely knew the cause (Id been bitching about tank maintenance for while). I was able to surface normally, getting minimal breaths, but if it had happened to one of my students, there would likely have been a serious accident.