I've heard this from so many people and so many reputable sources that I feel as if I'm the only person that has never experienced this phenomenon. In fact, when I've been in an instance where I've feared for my life (and there have been several) it seems to me that time speeds up and things happen so quickly I only have time to react and not to think. I only seem to recognize something happened after the fact.
I think there's a major difference between 'doing' and 'experiencing'. I know e.g. that in a skydiving emergency my actions have always been automatic & fast, but the experience of the situation made it seem like it lasted for ages.
That sounds more like a "in the zone" experience than a "slow-mo" experience. Where you body and mind are some kind of hyper rhythm and things just...happen without your conscious input.