A curious stunt and probably still even tossed into some courses, but it seems like a bad idea in practice. It probably shouldn't be done or taught, not even as a demonstration or curious experiment. Minutes are like seconds, if there are sufficient distractions or task loading.
Idk maybe you are just saying watch it go from 1.3 to 1.0, but why
Just believe your instructor when they tell you there is typically enough oxygen left in the loop to take your time carefully bailing out or doing some other life-saving drill that restores oxygen flow or ppO2.
Better training and safety point to promptly switch to another breathing source (e.g. BO) if you know that oxygen flow to loop has ceased. There are too many things that could happen on a real dive in between the time you discover this and the time you pass out.
[Manual additions via MAV to maintain setpoint is different, you do not sit there watcing ppO2 drop]
The whole 'turning off the O2 and swimming around' needs to be scrubbed from courses, and I haven't seen this personally but have heard people have drowned doing this, on courses no less. This is just terrible protocol when divers should be busy MAVing, plugging an offboard O2, or bail out