Error when adding 'term from node' relationship on node template

Sadly - while this may be a related issue, the error still appears after updating to the lastest dev (packaging script on 2011-07-19) and clearing the cache.

Here's a node template variant.

$handler = new stdClass;
$handler->disabled = FALSE; /* Edit this to true to make a default handler disabled initially */
$handler->api_version = 1;
$handler->name = 'node_view_panel_context_3';
$handler->task = 'node_view';
$handler->subtask = '';
$handler->handler = 'panel_context';
$handler->weight = -27;
$handler->conf = array(
  'title' => 'test',
  'no_blocks' => 0,
  'pipeline' => 'standard',
  'css_id' => '',
  'css' => '',
  'contexts' => array(),
  'relationships' => array(
    0 => array(
      'identifier' => 'Term from node',
      'keyword' => 'term',
      'name' => 'term_from_node',
      'context' => 'argument_entity_id:node_1',
      'vid' => '1',
      'id' => 1,
    ),
  ),
  'access' => array(
    'plugins' => array(),
    'logic' => 'and',
  ),
);
$display = new panels_display;
$display->layout = 'onecol';
$display->layout_settings = array();
$display->panel_settings = array(
  'style_settings' => array(
    'default' => NULL,
    'leftSb' => NULL,
    'top' => NULL,
    'sevencol-left' => NULL,
    'fivecol-right' => NULL,
    'eightcol-top-left' => NULL,
    'fourcol-top-right' => NULL,
    'middle' => NULL,
    'fourcol-bottom-left' => NULL,
    'eightcol-bottom-right' => NULL,
    'sixcol-left' => NULL,
    'sixcol-right' => NULL,
    'bottom' => NULL,
  ),
);
$display->cache = array();
$display->title = '';
$display->content = array();
$display->panels = array();
  $pane = new stdClass;
  $pane->pid = 'new-1';
  $pane->panel = 'middle';
  $pane->type = 'node_content';
  $pane->subtype = 'node_content';
  $pane->shown = TRUE;
  $pane->access = array();
  $pane->configuration = array(
    'links' => 1,
    'no_extras' => 0,
    'override_title' => 0,
    'override_title_text' => '',
    'identifier' => '',
    'link' => 0,
    'leave_node_title' => 0,
    'build_mode' => 'full',
    'context' => 'argument_entity_id:node_1',
  );
  $pane->cache = array();
  $pane->style = array(
    'settings' => NULL,
  );
  $pane->css = array();
  $pane->extras = array();
  $pane->position = 0;
  $display->content['new-1'] = $pane;
  $display->panels['middle'][0] = 'new-1';
$display->hide_title = PANELS_TITLE_NONE;
$display->title_pane = '0';
$handler->conf['display'] = $display;