This bug is related to xserver and not only nautilus.
It has been fixed upstream in commit 3e6358ee6c33979329b78fe2097a1fdf76fb69cd "Xi: Don't check for TOUCH_END, it's never set" but as you are experiencing, it's not included in neither ubuntu 12.04 nor F17 (though F18 is fixed).
I would recommend changing the priority of this bug as it affects all multitouch screens and also changing the component to xserver.
This bug is related to xserver and not only nautilus. 329b78fe2097a1f df76fb69cd "Xi: Don't check for TOUCH_END, it's never set" but as you are experiencing, it's not included in neither ubuntu 12.04 nor F17 (though F18 is fixed).
It has been fixed upstream in commit 3e6358ee6c33979
I would recommend changing the priority of this bug as it affects all multitouch screens and also changing the component to xserver.
Cheers,
Benjamin