Joey: I guess I tend to agree with your caution about running really significant power through neos in a live situation (at least to regard doing so as relatively risk free). It seems notable to me that there don't seem to be an enormous number of PA builders creating compact 118 sub bins around the silly light weight of neo 18s (Carvin might be the only exception (with their neo PA line - but the lack of others illustrates the point). On the other hand, Mesa's neo-driven 212 (nice and light) regularly receives rave reviews without any reports of failures. In a similar light, I played out for a year and a half with a Dr Bass 212 loaded with standard neo Kappalite 3012lfs (1100w peak, driven by various preamps and a QSC 2402) and found it the most reliable piece of my rig. I'm currently abusing neo Kappalite 15s in several applications with no problems.
Shifting gears slightly, I think my biggest remaining point of skepticism on Andy's Flatwound 12s is more about efficiency/power consumption (I'm a rocker) than the durability/reliability/fire safety of neo cabs in high power, demanding, live applications. I love the compact, clean, but still very deep low end 12s produce. As a former Acme guy, I'm still in awe of how much low end extension Andy squeezed out of his 10s. But the need to pour inordinately high power into a stack of, say - 4 112 Flatwounds to reach sufficient volume for the music is a source of frustration. I suppose I've become accustomed to seeing a typical 2500 level power amp as delivering lots of extra headroom - rather than just being adequate (hopefully) to the application. Still interested in trying out the Flatwounds, and willing to take the leap of faith on the neos. But just saying...