About 7 months ago I had an IPE and began to hyperventilate at about 70 feet. I knew I wasnt right, but made a controlled ascent to 15 feet for a safety stop. My wife always says "Don't drown." The idea of it scares the hell out of me. At about 55 seconds into the safety stop I thought "If something bad is going to happen to me its going to happen to me on the surface." I made it to the surface and was literally exhausted. I inflated my BC and began to cough up blood. By the grace of god and a helicopter ride I made it out of the hospital in a couple of days. It could have been worse, but it was going to happen above the water!!
IPE is kind of a mysterious thing. Unlike the above stories and info you were not drowning due to aspirated water but your own fluid collecting in your lungs. I first became aware of this phenomena many years ago when I was doing triathlon in a serious way. I knew a fellow, well, a friend, who had a pretty serious IPE event during a triathlon. It seems to be prevalent among snorkelers also. I often wonder if IPE can be triggered by breathing restriction. I swim laps, usually three to five miles per week and I sometimes develop a cough after a long swim. A swimmer's lungs are submerged and to breath must rotate and slightly lift the head to clear the mouth to get a breath, therefore there is a water column differential between between the mouth and the center of the lungs. Same with a snorkeler but even more so and perhaps a diver with a regulator that has a high WOB, high cracking effort and poor Venturi assist results in an unnatural breathing condition, higher than normal inspiration effort/suction. I think I have noted this in mild form when diving with a DH regulator where the diaphragm is well above the center of the lungs thus a considerable and unnatural water column pressure differential and a persistent cough afterwards.
I wonder, if you recall, did you have the regulator set to pre-dive? Was the regulator cracking effort knob turned in? Was the regulator performing correctly and good Venturi assist?
Immersion Pulmonary Edema (IPE)
This diver experienced classic symptoms of immersion pulmonary edema (IPE). IPE has been reported in warm water and with immersed activity of varying exertion.