I have looked a little bit into this (even though I haven't found much).
The following are the key bzr revisions:
110785 -- OK
110786..110811 -- Don't build on OS X (error during dump)
110812..111504 -- Broken in another way. When pressing <down> <tab> over an over again, Emacs gets stuck. Neither <tab> nor <down> will do anything. However, typing a plain character makes Emacs escape this state and start being responsive again. This seems to be an OS X related problem, as the fix was applied to nsterm.m.
111505 -- Broken as described in the original posts.
I hope this can shed some light on this, as this is a real problem that will affect lots of users. One thing we should try to figure out is if this is a problem specific to OS X, or if it is generic.
Sincerely,
Anders Lindgren