Occasionally it will disengage, leaving the pilot in full control. IIRC, when in full-auto it will automatically wave off (add power and climb out to go around and try again) when it disengages unless the pilot actively takes over; so it wouldn't create an immediately unsafe situation, but it could result in an unneccessary missed opportunity to land.

> when in full-auto it will automatically wave off (add power and climb out to go around and try again) when it disengages

Interesting. So it hasn't disengaged at all, it's just decided to abort the current landing attempt, and go around to try again.

Hoo boy, that could be dangerous if there's something physically wrong with the plane (a non-functional aileron or stabilator, for example).