Boat Crash - Possibly Related to Beacon

Summary:
I crashed while moving away from my base (and beacon) in a boat, and now crash any time I attempt to log back in to that server. It seems probable that I crashed at about the point where I left the influence of my installed beacon, providing "Haste I" and "Regeneration I" buffs. Interestingly, I no longer seem to be in my boat, but am a little further under water each time I log back in, and the boat appears to still be moving along the water's surface, though now I am too deep to see the boat clearly anymore.

This occurred in a Survival Multiplayer game, with no mods installed. My inventory was completely full. And, there were a few water blocks that were "flowing" nearby due to my use of a bucket days earlier.

Repro:
1. Launch Minecraft and join a SMP game with no mods.
2. Install a level 1 beacon near an ocean shore so that its influence extends over the water by several blocks.
3. Select the Haste I buff by sacrificing an Iron Ingot to the Beacon
4. Place a boat in the water while within the influence of the Beacon
5. Board the boat
6. Move directly away from the beacon out onto the open water

Results:
Crash to desktop. Player crashes any time they attempt to log back into that server.

Expected:
The player is able to continue out into the ocean. The beacon's buffs fade normally.

Note:
I have provided two crash logs. Some crashes are instant CTD, and other times the window becomes unresponsive. I'm not able to get back onto my SMP server to attempt to reproduce this from the beginning, the above steps are taken from memory. If I get more time I'll try doing this in Creative and/or Single Player.