Which actually brings up another good question. If I took a margin position at $100, it crashed to $1 and wen't back up to $500...would I be force liquidated if it all happened within a minute or 2?
YES!
Your liquidation price would be hit, your exchange would take all your coins and buy/sell at market price.
Also worthy to mention, is that a lot of people NEVER got their orders filled on BTC-E/Bitfinex during the flash crash to $100. Also during this time, the popular traders tool/bot (MT4) stopped working for these two sites, which means if you were relying on that (i.e. keeping your stop losses/limit orders hidden from exchange to prevent nefarious entities with access to this information), then you also wouldn't have gotten any of your orders filled.
Bitcoinland is full of fucking crooks and there is nearly always more than meets the eye to things that go on or erratic chart movements. Just cos you seen a flash crash to $100, don't automatically assume that you could have benefited from it as a lot of people should have, but didn't. Perhaps it wasn't a real sell-off at all, but just a numbers hack on the exchange, which resulted in a lot of people being robbed.