Single Player World Crash

Note:

Description: Unexpected error

java.lang.ArrayIndexOutOfBoundsException: 65535
	at yb.a(SourceFile:14)
	at yy.k(SourceFile:224)
	at akj.b(SourceFile:57)
	at bbb.q(SourceFile:3549)

Reopened due to MC-15519:

Description: Unexpected error

java.lang.ArrayIndexOutOfBoundsException: 61387
	at aaa.a(SourceFile:14)
	at aav.k(SourceFile:224)
	at amp.c(SourceFile:73)
	at bgf.p(SourceFile:3629)
	at bgf.b(SourceFile:119)
	at bfm.a(SourceFile:160)
	at bfy.a(SourceFile:1115)
	at bfq.a(SourceFile:863)
	at bfq.b(SourceFile:745)
	at net.minecraft.client.Minecraft.K(SourceFile:597)
	at net.minecraft.client.Minecraft.run(SourceFile:526)
	at java.lang.Thread.run(Thread.java:655)

Is this still a concern in the current Minecraft version 1.7.2 / Launcher version 1.3.4 or later? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.