I came back and watched the show after I had DVR'ed it. It does indeed look like pretty much everyone had life vests on. That would rule out the need for using clothing for flotation.

30 feet may be a decent fall into unknown water, but I'd really like to think I would find a way to get into the water and get my folks to safety. Staying with the sinking ship is generally not going to give you a very high probability of survival.