Items in equipment slot / Crashes if CanPickUpLoot is set to 1 in level.dat/player.dat files

By changing the value of CanPickUpLoot from 0 to 1 in level.dat or player.dat files, items will be picked up and placed into the equipment slot:
When dropping an an item or tool it will equip to your boots slot.
When dropping an Chestplate it will go to your helmet slot.
When dropping an helmet, the game crashes... When trying to pick the helmet back up, the game crashes again...(see attached crash log)
When dropping an pair of leggings, it will go to your Chestplate slot.
When dropping an pair of boots, it will go to your Leggings slot.

What I expected to happen was:
The item that I dropped would be dropped.

What actually happend was:
It item immediately goes to another an equipment slot in my inventory.
It also overwrites the existing item on the equipment slot.

Steps to Reproduce:
Drop an item in Survival mode.

Summary
This happens when you use Bukkit map to Vanilla SMP server, and this is because of incompatibility between unmodded 12w02b and bukkit. The bukkit sets "CanPickUpLoot" NBT Tag's value to 1 (not 0 the default), and 12w02b doesn't support that, so this occurs.

How to fix
Using NBT-Edit I compared my Level.dat file with a new fresh one.
In NBT-Edit the Byte "CanPickUpLoot" was 1, instead of the default 0. (In NBT-Edit: Data > Player > CanPickUpLoot)
For multiplayer use the player.dat files