No, the image does not disappear. The picture appears to stutter or jump to one side.
I'm not an expert on this, but I know the 3d signal is actually 2 separate images - 1 for the left eye and 1 for the right eye. Somehow the blu ray player encodes these 2 images into a single side-by-side or over-under image and sends it to the tv. The TV then decodes it and overlaps the 2 images onto the screen, but alternates them playing one after the other other very quickly.
What appears to be happening is the blu ray player is mixing up the images. Instead of send a left and right image, it is sending two left images. That makes the image appear to jump to one side and back again very quickly.
I took a high speed video of the event which I will attempt to upload. If you can view it, it happens right at the 2 second mark. I slowed it down, you can see it actually happens for 2 consecutive frames.