And I for one appreciate Kyle and Dave letting me, and us, know respectively. Better safe than sorry... That said, it's already going around on other sites--not Mustang related sites--and while it happened it seems many think it's bound to happen to everyone.
The internet: Good, and bad.
Yep, definitely the downside of the internet. Even with only 80 people at the event, it would have gotten around any way, so I am at least trying to get in front of it with facts rather than BS.
Speaking of facts, I just got off the phone with a trusted source with considerable experience on Mustang race cars.
They have seen this problem on Challenge/Koni cars and have investigated it extensively. The root cause, as Sam noted, it loose bolts.
The torque spec for the bolts is 200 n m/148 ft lbs. Very likely most installers do not torque to this value in the first place, and cobblestone type impacts have been proven to loosen the bolts over time.
They have also updated the bolts (new has fine thread, 225n m/166 ft lbs torque value) and changed the spindle to have a slightly thicker mounting pad which makes assembly a little harder, but has the bolt spend less time pressing the ears together and start clamping sooner.
So, one who is racing thier S197 might want to look at the 2010 spindle and the 2010 bolts in addition to regular checking of the torque (which Kyle and I were not doing). Note, there are two part numbers for spindles, one for 2010 and one for 2010 1/2 cars which has a different ball joint taper/size and will not work on the earlier cars.