Gnome-keyring gets stuck when trying to use Unsafe storage

[BitBurners.com]

1) Start Empathy
2) Define new Gtalk account
3) When Gnome keyring prompts for a new keyring password, leave it empty
4) Try to enable Unsafe storage

Expected result: Unsafe storage is used and account setup flow is completed

Actual result: Application gets stuck in the Use unsafe storage -query. Only way to get out of the situation is tho close all related application windows.

Reproduced with the Precise Beta 2 Live CD @USB stick

ProblemType: Bug
DistroRelease: Ubuntu 12.04
Package: gnome-keyring 3.2.2-2ubuntu2
ProcVersionSignature: Ubuntu 3.2.0-20.33-generic 3.2.12
Uname: Linux 3.2.0-20-generic x86_64
ApportVersion: 1.95-0ubuntu1
Architecture: amd64
CasperVersion: 1.312
Date: Sun Apr 1 06:20:31 2012
LiveMediaBuild: Ubuntu 12.04 LTS "Precise Pangolin" - Beta amd64 (20120328)
ProcEnviron:
 TERM=xterm
 LANG=en_US.UTF-8
 SHELL=/bin/bash
SourcePackage: gnome-keyring
UpgradeStatus: No upgrade log present (probably fresh install)