Tested the issue in Android and able to reproduce the issue. 

Steps Followed:
1. Launched the Chrome Browser with data saver on.
2. Navigated to the URL: http://hexclad.com/product/8-hexclad/.
3. Observed that images within the page are not loaded.

Chrome versions tested:
63.0.3239.111(Stable), 65.0.3292.0(Canary)

OS:
Android 8.0.0

Android Devices:
Pixel XL Build/OPR1.170623

Using the per-revision bisect providing the bisect results,
Good build: 65.0.3293.0 (523976)
Bad build: 65.0.3294.0 (524284)

You are looking for a change made after 523704(GOOD), but before 523705(BAD).

CHANGELOG URL:
The script might not always return single CL as suspect as some perf builds might get missing due to failure.

https://chromium.googlesource.com/chromium/src/+/1921bb351242e3ada575cc85858957f9c56106a8

From the CL's above, assigning the issue to the owner concerned.

@dougarnett:  Could you please look into the issue, pardon me if it has nothing to do with your changes and if possible please assign it to owner concerned.

Please navigate to below link for log's and video--
go/chrome-androidlogs/795557

Note: This issue is not observed in Desktop.

Thanks!

I expect this is works-as-intended. This page was a Lo-Fi preview that is enabled via Data Saver and when the network is slow. 

In the video, when the page is loaded notice the info bar at the bottom that says "Saved data. Show original"  You can click on "Show original" to get the full page with images; or you can long press on the image placeholder to get an option to load that single image.

You will get different results depending on the effective-connection-type.
That is if the network quality is currently rate a 2G or slower, you will get the Lo-Fi preview; if rated 3G or faster then you will get the full page. At least, that is the intended behavior.

You can check the effective-connection-type on 65 version by visiting the
chrome://interventions-internals page and going to the Network Quality tab.

Can you try to repro and report the Network Quality value?

FWIW, there has been a ~3x spike in the number of LoFi infobars shown:
https://uma.googleplex.com/p/chrome/timeline_v2/?sid=4d61628edb5ffc625a55fd72e36c48eb

Thanks Tarun, will look further.

I was able to repro on local debug build and hit related DCHECK.

The following revision refers to this bug:
  https://chromium.googlesource.com/chromium/src.git/+/9542a805b31d65f8fb144e4f016b90b85edb964c

commit 9542a805b31d65f8fb144e4f016b90b85edb964c
Author: Doug Arnett <dougarnett@chromium.org>
Date: Mon Dec 18 22:57:54 2017

Fix issue with Lo-Fi occurring for http without slow network

Bug:  795557 
Change-Id: I61c3a0dc01851d3d057a948e0d0be8dd65628e9d
Reviewed-on: https://chromium-review.googlesource.com/832521
Reviewed-by: Ryan Sturm <ryansturm@chromium.org>
Commit-Queue: Doug Arnett <dougarnett@chromium.org>
Cr-Commit-Position: refs/heads/master@{#524844}
[modify] https://crrev.com/9542a805b31d65f8fb144e4f016b90b85edb964c/components/data_reduction_proxy/content/browser/content_lofi_decider.cc
[modify] https://crrev.com/9542a805b31d65f8fb144e4f016b90b85edb964c/components/data_reduction_proxy/content/browser/content_lofi_decider_unittest.cc
[modify] https://crrev.com/9542a805b31d65f8fb144e4f016b90b85edb964c/components/data_reduction_proxy/core/browser/data_reduction_proxy_data.cc
[modify] https://crrev.com/9542a805b31d65f8fb144e4f016b90b85edb964c/components/data_reduction_proxy/core/browser/data_reduction_proxy_data.h
[modify] https://crrev.com/9542a805b31d65f8fb144e4f016b90b85edb964c/components/data_reduction_proxy/core/browser/data_reduction_proxy_network_delegate.cc
[modify] https://crrev.com/9542a805b31d65f8fb144e4f016b90b85edb964c/tools/chrome_proxy/webdriver/lofi.py