Use to happen to my paladin some time ago as well. I always thought it was a bug, except when it happened to my psi. Don't know if it's allowed to talk about, but god, it was annoying as hell.
Spell Control
Yep I have seen it too, mostly with monks and blademasters I think. It has been forever since I last saw it though.
And as far as the effect goes, I remember it reducing the druration of spells to 0-1 hours. Though I think it was only specific ones.
Correct, did some testing. Apparently young monks must focus to hold on to any spells on them, and can lose them if they aren't paying attention. They go to 0 hours left.