Has anyone had any symptoms or heard of anyone who has? Found this online and it best describes:
COLLAPSING TRACHEA -- Collapsing Trachea is a problem common to Toy Breeds. The trachea is a long tube that carries air from the neck to the chest. It is reinforced with rings of cartilage that help keep it rigid as air moves in and out of the tube. When the cartilage weakens, the trachea may collapse while the dog is breathing. While many affected dogs do fine, this isn't the case in all of the Toy's. The round cartilage rings may flatten, forcing the dog to try to breathe through an extremely narrow opening.
The symptoms of the condition---shortness fo breath, coughing, fatigue---usually appear after the age of five, although they can begin as early as birth. Generally young dogs tolerate collapsing trachea pretty well until they get older.
It has been suggested that you should use a "harness" rather than collar on this type dog [which we do but had a hard time finding one small enough for Toto]. I would be mortified if this happened ... we always have "Dr. Lucy" check it when she sees Toto. You just can't be too careful!