udisks-daemon when trying to erase media crashed with signal 5 in g_realloc()

1) lsb_release -rd
Description: Ubuntu 12.10
Release: 12.10

2) apt-cache policy usb-creator-gtk
usb-creator-gtk:
  Installed: 0.2.40ubuntu1
  Candidate: 0.2.40ubuntu1
  Version table:
 *** 0.2.40ubuntu1 0
        500 http://archive.ubuntu.com/ubuntu/ quantal/main i386 Packages
        100 /var/lib/dpkg/status

3) What is expected to happen is when one types at a terminal:
usb-creator-gtk

highlight the SanDisk Cruzer Blade (/dev/sdb1) -> click button Erase Disk -> button Yes -> type in credentials and the USB disk is erased.

4) What happens instead is a window pops up noting:
org.freedesktop.DBus.Error.NoReply: Did not receive a reply. Possible causes include: the remote application did not send a reply, the message bus security policy blocked the reply, the reply timeout expired, or the network connection was broken.

Then immediately click the button Open and crashes consistently.

WORKAROUND: Erase/Format via gparted.
apt-cache policy gparted
gparted:
  Installed: 0.12.1-1
  Candidate: 0.12.1-1
  Version table:
 *** 0.12.1-1 0
        500 http://archive.ubuntu.com/ubuntu/ quantal/main i386 Packages
        100 /var/lib/dpkg/status

sudo lsusb -v
[CUT]
Bus 002 Device 005: ID 0781:5567 SanDisk Corp. Cruzer Blade
Device Descriptor:
  bLength 18
  bDescriptorType 1
  bcdUSB 2.00
  bDeviceClass 0 (Defined at Interface level)
  bDeviceSubClass 0
  bDeviceProtocol 0
  bMaxPacketSize0 64
  idVendor 0x0781 SanDisk Corp.
  idProduct 0x5567 Cruzer Blade
  bcdDevice 1.00
  iManufacturer 1 SanDisk
  iProduct 2 Cruzer Blade
  iSerial 3 2005355082076CB031B6
  bNumConfigurations 1
  Configuration Descriptor:
    bLength 9
    bDescriptorType 2
    wTotalLength 32
    bNumInterfaces 1
    bConfigurationValue 1
    iConfiguration 0
    bmAttributes 0x80
      (Bus Powered)
    MaxPower 200mA
    Interface Descriptor:
      bLength 9
      bDescriptorType 4
      bInterfaceNumber 0
      bAlternateSetting 0
      bNumEndpoints 2
      bInterfaceClass 8 Mass Storage
      bInterfaceSubClass 6 SCSI
      bInterfaceProtocol 80 Bulk-Only
      iInterface 0
      Endpoint Descriptor:
        bLength 7
        bDescriptorType 5
        bEndpointAddress 0x81 EP 1 IN
        bmAttributes 2
          Transfer Type Bulk
          Synch Type None
          Usage Type Data
        wMaxPacketSize 0x0200 1x 512 bytes
        bInterval 0
      Endpoint Descriptor:
        bLength 7
        bDescriptorType 5
        bEndpointAddress 0x02 EP 2 OUT
        bmAttributes 2
          Transfer Type Bulk
          Synch Type None
          Usage Type Data
        wMaxPacketSize 0x0200 1x 512 bytes
        bInterval 1
Device Qualifier (for other device speed):
  bLength 10
  bDescriptorType 6
  bcdUSB 2.00
  bDeviceClass 0 (Defined at Interface level)
  bDeviceSubClass 0
  bDeviceProtocol 0
  bMaxPacketSize0 64
  bNumConfigurations 1
Device Status: 0x0000
  (Bus Powered)

ProblemType: Crash
DistroRelease: Ubuntu 12.10
Package: udisks 1.0.4-6
ProcVersionSignature: Ubuntu 3.5.0-17.28-generic 3.5.5
Uname: Linux 3.5.0-17-generic i686
ApportVersion: 2.6.1-0ubuntu9
Architecture: i386
CheckboxSubmission: 30b6638832e19720cfe8f7a91e5798a4
CheckboxSystem: 2954e74ba17fb0e37fc942cd1d9fab4e
Date: Wed Dec 19 10:25:02 2012
ExecutablePath: /usr/lib/udisks/udisks-daemon
InstallationDate: Installed on 2012-06-11 (191 days ago)
InstallationMedia: Xubuntu 12.04 "Precise Pangolin" - Alpha i386 (20120131.1)
MachineType: Acer Aspire 5750
MarkForUpload: True
ProcCmdline: /usr/lib/udisks/udisks-daemon
ProcEnviron:

ProcKernelCmdLine: BOOT_IMAGE=/boot/vmlinuz-3.5.0-17-generic root=UUID=fdb4fe9f-f8e3-4121-ad67-89d7f7a61f65 ro crashkernel=384M-2G:64M,2G-:128M quiet splash acpi_backlight=vendor vt.handoff=7
Signal: 5
SourcePackage: udisks
StacktraceTop:
 g_realloc () from /lib/i386-linux-gnu/libglib-2.0.so.0
 ?? () from /lib/i386-linux-gnu/libglib-2.0.so.0
 g_string_insert_len () from /lib/i386-linux-gnu/libglib-2.0.so.0
 g_string_append_len () from /lib/i386-linux-gnu/libglib-2.0.so.0
 ?? ()
Title: udisks-daemon crashed with signal 5 in g_realloc()
UpgradeStatus: Upgraded to quantal on 2012-09-14 (95 days ago)
UserGroups:

dmi.bios.date: 03/16/2012
dmi.bios.vendor: Acer
dmi.bios.version: V1.20
dmi.board.asset.tag: Base Board Asset Tag
dmi.board.name: JE50_HR
dmi.board.vendor: Acer
dmi.board.version: Base Board Version
dmi.chassis.type: 10
dmi.chassis.vendor: Acer
dmi.chassis.version: V1.20
dmi.modalias: dmi:bvnAcer:bvrV1.20:bd03/16/2012:svnAcer:pnAspire5750:pvrV1.20:rvnAcer:rnJE50_HR:rvrBaseBoardVersion:cvnAcer:ct10:cvrV1.20:
dmi.product.name: Aspire 5750
dmi.product.version: V1.20
dmi.sys.vendor: Acer