Darius, Those are two very informative sites for the expalnation of the loss function.
Having read them one of the statements seems to jump out;
"For example: A medical company produces a part that has a hole measuring 0.5" + 0.050". The tooling used to make the hole is worn and needs replacing, but management doesn't feel it necessary since it still makes "good parts". All parts pass QC, but several parts have been rejected by assembly. Failure costs per part is $0.45. Using the loss function, explain why it may be to the benefit of the company and customer to replace or sharpen the tool more frequently."
It appears to me that if the parts pass inspection but still will not assemble, it would be a another problem rather then a worn tool.
I don't know, maybe I'm not reading the example correctly.