I tried to place it, and it wouldn't work either. I went as far as to killing myself to drop it. I did, but once I picked it up, I would keep having that same problem. I tried dying on top of a holler, and the only way to retrieve the hive was to break the chest the Hive ended up in. It would stay stuck in the chest.
I don't even know what happened to make this start. All I know is that this problem started ever since the 1.5.1 "Hotfix" that supposedly "fixed" the problem.
That's not a bug. There is a separate screen dedicated to effect durations under the "mob effects" button. Check your controls in settings.