I have never had a blow out at speed from braking heat. I have, however smelled brake pads on several ocassions. On rim brakes I've worn new pads down to almost nothing, experienced fade, howling, stink & rims too hot to touch. On disc, warping & blued rotors, used to happen a lot until I got bigger rotors.
Others on here have had rims self destruct in spectacular fasion. (With pictures!)
I've personally seen carbon rims, both with aluminum brake track & with out that the beadseat exploded.
All this to say that yes, yes it does happen.
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I shouldn't have to "make myself more visible;" Drivers should just stop running people over.
Car dependency is a tax.