Add input format page has "rearrange them" link which is unusable

I know that the "rearrange" option under input informat is needed to resolve the conflict between two filters that are added. I was surprised when i saw a "rearrange them" link present in "add input format" page itself. AFAIK, Rearranging filters is not possible during creation of input format. However i clicked that link and it doesn't give me the "Rearrange" configuration page. Instead, it showed the hidden field "Formatting guidelines".

Steps to reproduce:
1. Login into drupal as admin
2. Traverse "Administer > Site configuration > Input formats"
3. Enter "Add input format" Tab
4. You can see a "rearrange them" link.
5. Clicking that will show the hidden field "Formatting guidelines" without displaying "Rearrange" configuration tab.

Later i found that this problem is present in Drupal 4.7.x also. OMG !!.. Is this really a bug? I doubt it. But i can clearly see that, it is a documentation issue and it might confuse the user. So, i prepared a patch by just changing the text that is displayed for "add input format" section.

Correct me if iam wrong.