issues when displaying CB inside panels

Hi,
Your module works perfect when I use it to override my theme breadcrumbs. However, I use panels (6.x-3.10) for almost all my pages and here come problems.
The breadcrumbs in my theme are positioned right under the main menu which I don't want. So I removed it from my theme

print theme('grid_block', $breadcrumb, 'breadcrumbs');

and put it inside a block using php

print  theme('breadcrumb', drupal_get_breadcrumb());

Now, for testing purposes I placed this block inside a regular theme region - footer. Secondly I placed it in my panels page region.
This resulted in huge differences between block's outputs.
My setup is pretty simple: I use taxonomy terms and nodes related to these taxonomy terms.
On module settings I have enabled:
Use the taxonomy hierarchy to set the breadcrumb trail for nodes and taxonomy pages
Show current taxonomy term in breadcrumb trail for node pages
Show current taxonomy term in breadcrumb trail on the taxonomy term page
Show current node title in taxonomy breadcrumb trail
Node types to include:
Page, Panels, Product
Using only these settings the block placed inside regular theme region displays everything what I need on taxonomy pages as well as on node pages. However, I can not get working the block displayed using panels.
I tried to position the module weights on module settings page - no luck.
No matter what I do - the block rendered inside panels always returns only home link.
Can anybody shed some light on setting this properly up?
Thank you for your time.