BUG #4166: Alter table add column from PgAdminIII

The following bug has been logged online:

Bug reference: 4166
Logged by: Mike Gagnon
Email address: mike(dot)gagnon(at)bellnet(dot)ca
PostgreSQL version: 8.3.1-1
Operating system: Windows XP
Description: Alter table add column from PgAdminIII
Details:

Hi Postgres Experts,
I used PGAdmin III to add a character varying column(400) length, not null
default ''. I get the column displayed in psql when I do a simple query
like SELECT * from MyTable limit 1;

When I try to do Update MyTable set NewColumn='something'; I get the error
saying that the column doesn't exist.... It thinks it exists when I do my
select, but it doesn't recognize this new column in my UPDATE...

I'm scared... I have a deadline coming up and I'm praying this one gets
fixed soon.

Many thanks!
Mike