Offline traces do not currently accurately record instruction fetches in dynamically generated code (https://github.com/DynamoRIO/dynamorio/issues/2062). All data references are included, but instruction fetches may be skipped. This problem is limited to offline traces.
If an instruction with multiple memory accesses faults on the non-final access, the trace may incorrectly contain subsequent accesses which did not actually happen (https://github.com/DynamoRIO/dynamorio/issues/3958).