That myth has been proven false so many times. It doesn’t even really make any sense if you think about it.
How about this, then… is it true that one can stop or slow time within a lucid dream?
theoretically, stopping time should be possible, given you have enough control of your environments. all you really have to do is freeze all matter around you. i havent heard of anyone that has done this, but there should be no reason for it to be impossible.
Yea ive died once in a dream, was kinda cool, but was sad…
and Lord Skye, I dont know what this has to do with this thread but ofcourse u can slow down time in a dream, just like everything in a dream, it is not real, u can do anything 
It cannot be proven to be false. Nor can this other theory be disproved:
Dreaming of blue bananas can sometimes cause death in reality. If this were true, how would we know? Anyone who died from a dream could not tell us about its content.
I merged your topic in this one about the same subject. So you can find lots of accounts of dying in dreams - and mine too.
i agree with basilus 
another dream for the collection:
Monday december 5 2005
Yellow Lunar Warrior
Death by injection
I’m in another civilization (?). It is very crowded, so at a certain age, members of this communtity are given an injection. It can go two ways. One way it is instant death, and another way it is life enhancing.
People go in there in two’s. Only one of them comes out.
I’m one of the people that has to go in there. I’m dressed in white. Everybody is. I lie down. I’m the one on the right. To my left is another person.
I feel the injection in my hand. I feel the needle go inside me. It hurts a litte. But as soon I realize the pain of the needle, i feel my heart stop beating.
I’m dead now. I wonder about this. I ponder about my experience. It is quick and painless. You only feel the needle and it is over. But the way I felt my heart stop was not funny. It was real scary.
I’ve died several times in my dreams… I’ve drowned and I’ve been shot a number of times.
Anyway…I can’t see how this still is a topic of discussion!
How do you drown in your dream? Wouldn’t you become lucid once you realize you can breathe under water?
Humm blue bananas.
Sure, just ask during a seance.
I must say, I really laughed reading the first post. This because of my own dreams. I’ve fallen down cliffs, been shot, stabbed, drowned and so on…
If dying in your dreams = dying in real life, then I’m just living my life number 1000!
I died in a dream once, and when I woke up it turned out I had died in real life. I thought of all the people who had told me to go to hell during my life. I guess I showed them…
Just kidding. Of course I’m not really dead. I don’t think you can really speculate on this topic unless you’ve actually died from dying in a dream. By then it would pretty much be too late to tell anybody on earth, even if there is an afterlife. But I have died or experienced things that would kill me like being shot in a dream, and have woken up fine if not a bit shaken. I think your dream has to be pretty intense to kill you. Maybe there’s such a thing as a nightmare that could literally scare you to death? Either way, I wouldn’t worry too much.