Whoa - Had the gunshot tonight on my way back from a local car meet. Fortunately I had read this thread so (after a few seconds of panic

) was able to attribute it to belt slip.
I think I'll be tempted to tweak up the belt tension a tad as it's not a nice noise!
I still find it odd that it's the belt that is jumping. It's not as if it's easy for a toothed belt like that to somehow launch out of the sprockets - even when quite slack! I suspect it is a function of wheel slippage and lash in the belt's tension path when that occurs. I reckon we should compare tyre type with slippage gunshots and see if a more progressive tyre tread reduces the effect?
[Notwithstanding that
Phil still gets the bangs even after converting to a chain drive! Therefore there could easily be something else at work...]
My data:
tyre = Yokohama and slippage = lots