Having had a look at the code, GetFieldByName does not appear to go anywhere near the field values, it simply returns an EntityField corresponding to the supplied name, or null if the field is not found.
Could your colleagues by trying to do <entity>.GetFieldByName<fieldname>.somemethod, but in some way getting the field name wrong - this would throw a nullreference exception.
When you say 2 colleagues have told you this, have you tried it for yourself ? The source code for the ORMSupportClasses is in the SDK, which is in the download section of the website, once you have logged in with your customer ID and password.
This would allow you to debug into the code to see exactly what is happening.
Matt