Well, it came up on another forum, so let's see if we can figure it out.
If there are 3 flush cards on the board and you have the flush, what are the odds that somebody else also has the flush?
Assume nobody folds two suited cards.
Are the odds different if the 3rd board flush card comes on the flop vs turn vs river?
Whatever the odds are, they're not long enough. It happened to me against last night. I had [8d]. Flop came with two of the higher diamonds than mine, turn came with another higher diamond. So there are only two higher diamonds out there. Other guy goes all-in on the river, about 150% pot bet. I could feel that he had me beat but I called anyway like a doofus. (Note to self: trust your reads, not the odds!) Did he have one of the higher flush cards in his hand? Nope, he had both of them. They call that a royal flush. Sheesh.
Anyway. I'm going to leave this as a question for now while I recover from losing my stack on this one. I'll take a shot at answering it pretty soon. Anybody who wants to go first, please do so!