Annoying emergency call bug on the iPhone

Three major releases of the iphone OS have come. Still No one seems to have encountered this annoying bug that seems to have bitten the iphone.

Lets cut it to the chase. If you have a six/four digit pass code set up on your iphone( You will have it if you have set up exchange with a profile on the server side), you have a seven or zero in your pass code and fat finger the pass code by hitting emergency call button that is next to 7 or 0, Your correct pass code is not authenticated any more. I mean the iPhone will refuse to validate even if you enter the correct pass code, once you hit the emergency call by mistake. Obviously, the only other way to fix this is to power off the phone and power it on again or change the pass code such that it is devoid of the digits around the emergency calls.

Because the active sync server has user profiles which has the password requirement set up, I cannot get rid of the password requirement. Further more, I don't even see the different times under Require pass code section. Of course, I could change my pass code and not worry about this, but I really should not have to.