CASPOL MMC throwing exception

I was playing around the CASPOL editor MMC, creating a PermissionSet and linking that to a new CodeGroup. I subsequently modified the properties of that CodeGroup and was thrown this error

Wow, has anybody seen this before....?

See the end of this message for details on invoking
just-in-time (JIT) debugging instead of this dialog box.

************** Exception Text **************
System.NullReferenceException: Object reference not set to an instance of an object.
   at Microsoft.CLRAdmin.CGenSecurity.get_MachineNode()
   at Microsoft.CLRAdmin.CGenSecurity.GetSecurityPolicyNode(PolicyLevelType nType)
   at Microsoft.CLRAdmin.CSingleCodeGroup.SecurityPolicyChanged(Boolean fShowDialog)
   at Microsoft.CLRAdmin.CSecurityPropPage.SecurityPolicyChanged()
   at Microsoft.CLRAdmin.CSingleCodeGroupProp.ApplyData()
   at Microsoft.CLRAdmin.PropertySheet.SendApplyToAll()
   at Microsoft.CLRAdmin.PropertySheet.doApply()
   at Microsoft.CLRAdmin.PropertySheet.onOkClick(Object o, EventArgs e)
   at System.Windows.Forms.Control.OnClick(EventArgs e)
   at System.Windows.Forms.Button.OnClick(EventArgs e)
   at System.Windows.Forms.Button.OnMouseUp(MouseEventArgs mevent)
   at System.Windows.Forms.Control.WmMouseUp(Message& m, MouseButtons button, Int32 clicks)
   at System.Windows.Forms.Control.WndProc(Message& m)
   at System.Windows.Forms.ButtonBase.WndProc(Message& m)
   at System.Windows.Forms.Button.WndProc(Message& m)
   at System.Windows.Forms.Control.ControlNativeWindow.OnMessage(Message& m)
   at System.Windows.Forms.Control.ControlNativeWindow.WndProc(Message& m)
   at System.Windows.Forms.NativeWindow.Callback(IntPtr hWnd, Int32 msg, IntPtr wparam, IntPtr lparam)


************** Loaded Assemblies **************
mscorlib
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/Microsoft.NET/Framework/v2.0.50727/mscorlib.dll
----------------------------------------
mscorcfg
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_32/mscorcfg/2.0.0.0__b03f5f7f11d50a3a/mscorcfg.dll
----------------------------------------
System.Windows.Forms
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.Windows.Forms/2.0.0.0__b77a5c561934e089/System.Windows.Forms.dll
----------------------------------------
System
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System/2.0.0.0__b77a5c561934e089/System.dll
----------------------------------------
System.Drawing
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.Drawing/2.0.0.0__b03f5f7f11d50a3a/System.Drawing.dll
----------------------------------------
System.Xml
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.Xml/2.0.0.0__b77a5c561934e089/System.Xml.dll
----------------------------------------
System.Web
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.210 (QFE.050727-2100)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_32/System.Web/2.0.0.0__b03f5f7f11d50a3a/System.Web.dll
----------------------------------------
System.Data
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_32/System.Data/2.0.0.0__b77a5c561934e089/System.Data.dll
----------------------------------------
System.Security
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.Security/2.0.0.0__b03f5f7f11d50a3a/System.Security.dll
----------------------------------------
System.DirectoryServices
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.DirectoryServices/2.0.0.0__b03f5f7f11d50a3a/System.DirectoryServices.dll
----------------------------------------
System.Messaging
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.Messaging/2.0.0.0__b03f5f7f11d50a3a/System.Messaging.dll
----------------------------------------
System.ServiceProcess
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.ServiceProcess/2.0.0.0__b03f5f7f11d50a3a/System.ServiceProcess.dll
----------------------------------------
System.Configuration
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/System.Configuration/2.0.0.0__b03f5f7f11d50a3a/System.Configuration.dll
----------------------------------------
Accessibility
    Assembly Version: 2.0.0.0
    Win32 Version: 2.0.50727.42 (RTM.050727-4200)
    CodeBase: file:///C:/WINDOWS/assembly/GAC_MSIL/Accessibility/2.0.0.0__b03f5f7f11d50a3a/Accessibility.dll
----------------------------------------

************** JIT Debugging **************
To enable just-in-time (JIT) debugging, the .config file for this
application or computer (machine.config) must have the
jitDebugging value set in the system.windows.forms section.
The application must also be compiled with debugging
enabled.

For example:

<configuration>
    <system.windows.forms jitDebugging="true" />
</configuration>

When JIT debugging is enabled, any unhandled exception
will be sent to the JIT debugger registered on the computer
rather than be handled by this dialog box.

Some addition information on what I was doing

The Codegroup created was called "MyCodeGroup" but upon the Finish button, it was labelled as "Copy of MyCodeGroup". I renamed it back to "MyCodeGroup" and upon modifying properties it consistently throw those exceptions. All these happened with the same MMC window.

Now that I am using a new MMC window, that CodeGroup has mysteriously disappeared. my custom PermissionSet remains. Creating a new CodeGroup, the "Copy of" prefix once again appears. This time however, i was able to rename it and modify the properties without exception.

I think the first time i created the CodeGroup it somehow did not register as with the collection even though the UI did show it. Thus the callback points to a null reference.