In reply to bikerrog:
I thought the weakening at a knot was due to the sharp bends within the knot rather than any movement as the knot tightens.
Doubled/trebled slings in extenders is pretty common so it must have been tried and tested by by thousands of climbers in thousands of falls.
You'd expect a doubled/trebled sling to take a load of about 44/66kN so unless there was a huge weakening of the sling, the caribiner would break before the sling. More realistically the rock or nut/cam/hex would fail or pop out.