My router bit moves

You guys are brave!

Not many things scare me but loose router bits are terrifying.

The causes that I know of have already been mentioned:
  • bit buried in collet;
  • dirty collet;
  • corroded collet;
  • worn out collet.

Tom
 
William... My Hitachi collet has slipped more than once when using a 1/2" upcut spiral.  I haven't ruled out user error, but I was using a new router/collet, new bit, all were clean, and the bit was not buried.  I heard the sound of the bit change (and stupidly rationalized that away) but quickly noticed that my dado was getting deeper. 
 
I had the same issue you describe - turned out that the bit was lifting/rising in the "quickchange" collet as the workpiece traveled across it. Tighten the collet nut and see what happens. (or do like I did and scrap the faulty quickchange collet.)
 
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