A watch object, or function/context pair, will only be triggered once for a given notification. For example, if the same watch object is registered for an exists and a getData call for the same file and that file is then deleted, the watch object would only be invoked once with the deletion notification for the file.
When you disconnect from a server (for example, when the server fails), you will not get any watches until the connection is reestablished. For this reason session events are sent to all outstanding watch handlers. Use session events to go into a safe mode: you will not be receiving events while disconnected, so your process should act conservatively in that mode.