Other mistake: When Bond jumps onto the coupling of the horse-trailer, you can see that the idler wheel is already on the ground. It would be crazy to drive around a rough surface like near the racetrack with the idler wheel down - the trailer could be overturned. (00:04:50)
Continuity mistake: When Bond takes off in the plane, we see - in one shot from Bond's view - the Cubans approaching. The background is a flat (English) countryside. In the next clip, we see a close-up of one of the Cubans. behind him are quite large hills/mountains. (00:04:55)
Continuity mistake: Just before the clown hits the embassy window the lighting changes significantly between shots. There are some strange reflections when he hits the glass, which were not there a millisecond before. (00:12:30)
Continuity mistake: During the rickshaw chase 30 minutes in, all external shots show that it has a clear plastic windscreen in front of the driver's face, but in all of the close up shots of the driver the camera is mounted on the rickshaw filming him and the windscreen is gone. (00:30:00 - 00:35:00)
Plot hole: The Fabergé egg General Orlov presents to Kamal Khan, then destroys, is the actual egg - not the "fake". We know this because Bond put the transmitter in the actual egg. (00:58:18 - 00:58:50)
Factual error: In the forest, Bond runs into a giant spider web. First, the spider's thread is far too thick and resistant. No cobweb could slow a person down. Second, there are several spiders hanging in the same web. Spiders don't share their nets with others. Third, these spiders are supposed to look like tarantulas, which don't spin webs. (00:59:30)
Factual error: When Bond is being pursued through the jungle, we see what appears to be a crocodile swimming towards him. It is obviously an alligator, which can be identified by its broad snout (crocs have a narrow snout). There are no alligators in Asia. (01:05:00)
Continuity mistake: When we see Q fishing, the lighting is totally different from when he's seen from the back in the next clip. Also the bank rises close behind him when seen from the front, but in the next clip the camera position is further back. Those are not shot in the same place. (01:09:30)
Continuity mistake: Octopussy is standing next to her bed when Bond comes to kiss her. They kiss. In the next shot when they lay down on the bed they are inside the golden 'legs' of the bed. But they didn't move sideways and definitely did not step over the leg. (01:12:15)
Continuity mistake: When Bond and M are driving through Berlin, in the outside shots, their car is a Mercedes-Benz Type W123 standard wheelbase sedan. In the take when the driver is talking, he's driving that vehicle. When the camera switches to Bond and M in the back seat, it's a long-wheelbase V123 Pullman sedan, evidence being the large pop out rear quarter windows and M leaning forward to open his door. (01:17:57)
Continuity mistake: Grishcka holds the lower tip of the diamond but a shot later the diamond is tucked inside his hand. (01:31:00)
Continuity mistake: When Bond and the twin fall off the train, Bond's movements do not make sense. In the first clip they are both moving away from the train. In the next clip they are rolling partly along the tracks, partly towards them. In the next clip Bond is rolling forward straight into the bushes. (01:40:25)
Continuity mistake: When Bond passes under the Autobahn bridge you can see the traffic is very slow. But seconds before - when Bond's car left the Autobahn, there was no traffic congestion. (01:45:15)
Revealing mistake: When Bond horseback rides towards the plane, Roger Moore is replaced by an obvious stunt man wearing red goggles. (02:02:50)
Revealing mistake: Near the end, When Bond is hanging onto the outside of Kamal's plane (first on the roof, then on the side), we see two instances of Roger Moore's stunt double. (02:04:13 - 02:05:10)
Revealing mistake: When Gobina first slashes at Bond during the climactic fight on the plane, a subsequent medium shot reveals a stunt double (note the bald spot). He's even wearing completely different clothing - a black stunt suit instead of a blue jacket and white shirt. (02:05:00)
Other mistake: Some of the shots of Kahn wrestling with the controls in the fight on the plane are reversed. The writing on the controls is backwards (eg RADAR JUNCTION BOX in the middle of the screen). (02:05:35)
Factual error: In the balloon scene, it seems like Q can circle around and land on a spot where he flew past previously. A balloon can only fly in the direction of the wind.
Continuity mistake: At the end of the film, Bond chases Khan following the battle at Octopussy's mansion. In the short time it takes to run to a nearby plane, it turns from pitch darkness to bright sunshine.
Plot hole: Bond would not have had (nor taken himself) time to lay a complete and careful clown make-up while changing clothes in the circus trailer.
Chosen answer: The satisfaction of knowing he'll win, the thrill of pulling one over on someone; maybe like Goldfinger, he just doesn't like to lose under any circumstances.
Captain Defenestrator