Keith,
I have always understood that a majority of the trapeze hook getting lodged in something problem is related TO the bouyancy in the life vest making it difficult to unhook when under the water. No while I certainly wouldn't want to be out in the ocean with out a vest, I think that once I got unhooked and got some air, I could find a way to get the vest back on. Not sure the coast guard would feel the same way though!