The only time this was an issue was on final bosses. Boss dies. 7 people leave quickly, 8th guy got loot dropped in his pocket instantly. They never 'fixed' loot dropping to you after FIVE minutes. That's your own dumb fault. What they addressed was the final boss situation where if your party all left the instance it fell to you instead of giving you the full 5 min. Now you get the full 5 min still.

You got 5 min. That's plenty of time to click pass.