InlineEditSupport with Lookup Fields

We noticed an issue with the inlineeditsupport visualforce functionality concerning Lookups and the Undo button and was wondering if anyone else has noticed this issue.

If you have a lookup field on a visualforce page that is using the apex:inlineeditsupport and the user clicks the Undo button on the lookup field the page throws an error stating that there are No Matches found in the lookup. All the buttons and functionality of the page stop working and there is no way to get around the issue. If the lookup isn't required and the user has chosen to Undo the change for that field it shouldn't throw a No matches found error.

This is a serious bug with the functionality especially if like us you are using the inlineeditsupport on a pageblocktable.

http://www.salesforce.com/us/developer/docs/pages/Content/pages_compref_inlineEditSupport.htm

Has anyone else seen this error? How did you get around the problem?