Replacing circuit breakers in an energized bucket/panel is not an uncommon practice. And sadly, sometimes it gives very close call like in this video:
https://www.youtube.com/watch?v=4bBvmPRqfmoBut the general understanding of arc flash is improving, thanks to IEEE 1584, NFPA 70E, OSHA enforcement, and our arc flash gurus here. There are demanding situations where the bus is live and breakers have to be racked in/out. But we fully understand from IEEE 1584 Article 5.3 or NFPA 70E 2015 Article D.4.3, that the incident energy is inversely proportional to working distance (with exponent factor depending on voltage & type of equipment). Therefore, it will be a good practice if we use remote racking tools (devices) in addition to the recommended PPE. After all nothing is larger than life.