The following bug has been logged online:
Bug reference: 1114
Logged by: Oliver Elphick
Email address: olly(at)lfix(dot)co(dot)uk
PostgreSQL version: 7.4
Operating system: Debian Linux
Description: REVOKE done by non-privileged user claims success
Details:
When REVOKE is used on an object for which the current user does not have
GRANT privilege, the operation fails but "REVOKE" is returned as if it had
succeeded:
$ psql -U fred template1
template1=> revoke create on schema public from public;
REVOKE
(NB: this web interface at http://www.postgresql.org/bugform.html could do
with Pg version options for 7.3.6, 7.4.1 and 7.4.2).