In those days, the AMA Rules didn't limit the refueling or tank size, so it was indeed how long the engine/glowplug/pilots could tolerate. I don't think the engine or glowplug gave up the program, just the pilots had enough fun. Since that record was set, the AMA (and CD's and rules writers) decided that it would make more sense to require all fuel to be onboard, and limited the tank sizes. I suspect so that records could be set at a contest, instead of at a special record trials, but also to make it more interesting. Did it work? Probably not, tho we did have an Endurance Record Attempt at Stunt-A-Thon in '07.
Extracted from the rules, online:
"reciprocating internal combustion type with total
piston displacement from .0900 to .3661 cubic
inches. Sixty percent of the actual piston
displacement of four-stroke cycle engines shall
be taken for compliance with this regulation.
Jet assist, catapult, or other launching device not
permitted.
4. Fuel Capacity. The maximum fuel capacity
permitted is 30 cubic centimeters. This capacity
is to be checked through the use of an accurate
system by visual examination of the volume of
fuel put into the tank(s) and fuel lines. All
lubrication shall be contained in the fuel, and
may not be recirculated. Capacity checks shall be
made before the first attempts, and shall be
verified after a winner or record is established."
30cc's is pretty close to 2 fluid oz, as I recall.

Steve