[7.0/trunk]MRP Production crashes on using Automated Actions

Description:
Sale order confirmation and MO creation fails if Automated action is set for mrp.production. The database becomes unusable after that. Even after deleting the Automated action, the issue persists. It makes permanent damage to the Database.

Steps to Reproduce:
1. Install Sale module
2. Install MRP and MRP_JIT
3. Create a Product with Make to Order and Supply Method as "Manufacture"
4. Define BOM, Routing, Workcenters for the Product.
5. Now, creating a Sale order automatically creates a MO.
6. Create an Automated Action for mrp.production
7. Select based on timed condition and select the date as "scheduled date"
8. Save the Automated Action. It does not matter if you dont define a server actino.
9. Now, create Sale order for the same product.
10. You will not be able to confirm the order as MO creation fails as something is broken.

Expected Result:
SO should be confirmed and corresponding MO is to be created.

Observed Result:
Trunk version throws value error saying keyword Update is not found.
Version 7 throws Attribute error with Keyword update is not found.

Version: 7.0 and even the trunk version (Checked in Runbot)
Server OS: CENTOS, UBUNTU
Browser: All major browsers

Please confirm the Bug.