Confirmed in 1.4.6 and reproducible with any kind of block. As seen in the screenshot standing at this angle and walking forward will damage you without falling into lava.
Is this still a concern in the current Minecraft version1.6.4 / Launcher version 1.2.5 ? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.
I think the reason why this happens is the same as why you can sprint over a gap of one block length: If you are behind the top half of a block, you go up on it (like on slabs or from slab to block). This also happens while falling. If you sprint over a one block wide gap, you don't fall enough to be under that 0,5 blocks mark, so you go up again. The same probably happens here: You can go down enough to be in the lava, but high enough to go up again. The real bug is that you don't get the usual 300+2x ticks of fire (in this case 300 or 302) afterwards.
Command for reproduction: teleport @p ~-.5 ~.5 ~.3 45 in a command block, one block further to negative X and positive Z lava, all four blocks around the lava is a solid block.
Is there soulsand at the corner?