There has been one report of a seat back detaching and child falling out, resulting in a skull fracture with the Fisher Price 3-in-1 High Chair to Booster™ Seat. A recall does not get more dire than this, additionally, the seat back can detach if not fully snapped in place, posing a fall hazard and risk of serious injury to young children.
It seems if the size of the recall is big enough (this recall is for 24,000 units) it is deemed press worthy while other seemingly smaller ones fall under the news industry radar, except for some of the smaller newspapers and news outlets. This means that word-of-mouth becomes vital to getting the word out to people who may have recalled products in their possession, tell a neighbor, bring it up at the park or mommy and me class - you may prevent an accident from happening.
These highchairs were sold at Target from 2008-2009 for about a $100 bucks. Look for product number (P5369) on the side of the seat.