No I didn't found it anywhere, and up until now I haven't found any article that discuss this "odd" behaviour (althoug it realy isn't so odd after all...). As I said, even Steven Feuerstein was not avare of that.
I must say I am very intrigued by this fact. It is a mystery to me why in the WHILE clause it runs through the loop for sometime (my tests: from 50 to 5500 times). At first I thought that it waits for the second to change but later I observed that once it was waiting for 4 seconds.
But my friend being a suspicious soul, wanted to be absolutely sure and by testing it in "supposed-to-be" an infinite loop discovered that I was wrong.
In Oracle7, I used to test for TRUE by IF 1=1, however, I never used IF sysdate=sysdate :-)