I use third person view all the time and have never been dumped off the griffon prematurely. However, I have experienced the fabled black death glitch (didnt die, just couldnt see, had to reboot my computer because EQ2 froze too), but when I returned i was in the middle of antonica! Still alive and well, but in the middle of no where heh.
I'll have to try this one though, sounds fun :D