pwd isn't being updated when moved

[Eddie]

Machine: i686
OS: linux-gnu
Compiler: gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='i686' 
-DCONF_OSTYPE='linux-gnu' -DCONF_MACHTYPE='i686-redhat-linux-gnu'
-DCONF_VENDOR='redhat' -DLOCALEDIR='/usr/share/locale' -DPACKAGE='bash' 
-DSHELL -DHAVE_CONFIG_H  -I.  -I. -I./include -I./lib  
-D_LARGEFILE_SOURCE -D_FILE_OFFSET_BITS=64 -O2 -pipe -m32 -march=i386 
-mtune=pentium4
uname output: Linux syn.walla.co.il 2.6.9-22.EL #1 Sat Oct 8 17:48:27 
CDT 2005 i686 i686 i386 GNU/Linux
Machine Type: i686-redhat-linux-gnu

Bash Version: 3.0
Patch Level: 15
Release Status: release

Description:
       when user is in window one in some directory, and from window 
two that directory is moved to another
       location (or name), the pwd in the first window isn't being 
updated and when user tries to access a file
       without using full path, it gets the file that was in the 
original directory even thought it was moved.

Repeat-By:
       in window 1:
       -------------

       mkdit ~/test;
       cd ~/test;
       echo "hey" > file;

       cat file;
               -- "hey"

       ------------------

       in window 2:
       ------------
       mv ~/test ~/test.old
       mkdir ~/test
       echo "bye" > file;
       cat file;
               -- "bye";

       ------------------

       in window 1:
       ------------
       cat file;
               -- "hey" (even thought ~/test/file contains now "bye")
       cat `pwd`/file;
               -- "bye" (it's ok using full path)

       ------------------------

   also:

   [quatrix@syn test]$ ll
   total 0
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:39 go
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:39 hey
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:39 ho
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:39 lets
   [quatrix@syn test]$ ll `pwd`
   total 0
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:40 a
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:40 b
   -rw-rw-r--  1 quatrix quatrix 0 Sep 11 17:40 c

   --------------------------------


  

       P.S. i checked for this bug in csh, just to make sure it's not a 
file system glich, and
       in csh when one moves a directory, a user who's in that 
directory gets its 'pwd' changed to the new value;