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SN74LVC2G34: Will loss of power cause chip failure?

Part Number: SN74LVC2G34

I am working on a project to record and playback audio (to / from) a personal computer via USB.

Power from USB will be regulated to 3.3V and be used to power:

a. audio clocks FS, 64FS, 256FS

b. USB interface

c. logic to format the audio data

In addition, there will be a separate line based 3.3V supply to power A/D, D/A, DIR, DIT. and SRC.

There is a common ground between the two power grounds.

I have placed a buffer SN74LVC2G34 in series with each clock line and data line.

Question:  If USB power is good, but the line based supply fails, will this result in failures of other chips?