One thing that is very easy to overlook is the fact that seat belts degrade over time, mostly from UV radiation. The window glass in vehicles stops almost all UV but a tractor outside gets the full dose of it. There is some pertinent information in this PDF {such as Figure 1 on page 2 of the document (4 of 14)} which shows just how rapidly unprotected seat belts can be severely weaken. .
http://www.sfifoundation.com/wp-content/pdfs/Webbing Life Presentation 12-2014.pdf
Just as a good example of how old some of these belts can get I'll refer to Yourkie's post (with absolutely no malice intended).
If that is truly the original belt it can be anywhere from 20 to 32 years old (the John Deere 755 was produced from 1986 - 1998). Would it fail if it was ever "put to the test"? I am highly inclined to believe it would.