Okay, the trade log refers to both players as minor league players, even though Elbert did have a ML contract. It doesn't mean he was on the 40-man. He may have been outrighted to the minor leagues, while retaining his contract.
I'll leave it in the bug reports. Not to second-guess you oli', but do you remember the player being on the 40-man pulldown when you initiated the trade? I tried to check all transactions, but none are being kept. We'll see if we can get to the bottom of it. All I can reiterate is there must be an explanation. I could not force this to happen during all the tests prior to the change.
(stop laughing pstrickert. I know I effectively said, "Cannot Reproduce")