The same may happen if you use the OS X Console utility to review the crash logs.

It appears the offending text string is included in the crash report and is similarly handled when the reporter opens, resulting in it crashing as well. Generally if a program crashes then the system will open the crash reporter utility so you can send details of the problem to Apple. Unfortunately, being a text-handling bug, if it does get triggered then the issue may have a feed-forward effect in the system's crash reporter and logging services. In its testing The Next Web found it does not happen in installations of Snow Leopard or Lion, which I have confirmed with direct installations of both and in virtualized installations of OS X Lion. This issue only appears to affect versions of OS X Mountain Lion so far. Therefore, if you go to the Terminal's preferences and type this faulty string in a text field (for example, setting the default opening command) then the program will crash, but you can type it all day at the command line or in a text editor like Vi or Pico and be perfectly fine. Additionally, while the OS X Terminal utility itself is affected, the Bash shell and programs that run in it are not. Older programs and some technical programs such as WaveMetrics' Igor Pro computational platform and BareBones' TextWrangler are not affected. While most programs tap into Apple's text-handling services and therefore are affected, not all interface with these services. The system's Auto Save feature should also preserve most if not all of the changes made to the documents before the crash. While the current application will crash, Mountain Lion's Resume feature in OS X should return the window locations and contents to where they were when the program halted. Additionally, Apple's work flow preservation features in OS X should help manage the issue for any who encounter it.

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