Sorry I forgot a step in the bug reproduction. Please do the following instead:

Checkout erl-g from svn: https://svn.origo.ethz.ch/autotest/trunk/erl_g/
set environment variable ERL_G to where you checked it out to.
$cd $ERL_G
$geant install
$geant compile
$cd example/hello_world
$geant install
$geant compile_ise