I knew that a new tooth would grow in where the old one was, so I wasn't freaked out by it.
What bothered me, however, was when one would be almost out and just hanging there by this little flap of gum, and it would hurt if I pulled on it or twisted it, and I knew that if I just gave it a good quick tug it would be over with, but I didn't want to do that because it was fun to play with it with my tongue--pushing on it just hard enough to hurt, then letting it go back into position, and repeating this over and over again.
Also, once it was out, I couldn't stop running my tongue over the hole where the tooth was, feeling the smoothness of the gum and then the little hard bumps when the new tooth started growing through.
So I guess the answer is yes--it did freak me out just a bit, and is freaking me out now just thinking about it some 30+ years later!
(P.S. Shouldn't this thread be posted in the Parents' Forum instead of the Crater?)