Renaming Application Links cause rendering problem: "Couldnt find an application link with the name {0}."

Problem

Confluence gets lost when renaming application links.

Error rendering macro 'jira' : Couldnt find an application link with the name {0}.

Steps to reproduce:

Confluence 4.2.1 (Win 64-bit)
JIRA 5.0.3 (Win 64-bit)

1. Install JIRA
   1. Use Eval DB
   2. Port 8080
   3. Admin: jiraadmin
2. Install Confluence
   1. Use Eval DB
   2. Port 9090
   3. Admin: confadmin
3. In JIRA Administration, create App Link to Confluence
   1. URL: http://<hostname>:9090
   2. Name: JIRA (localhost)
   3. NOT a trusted link
   4. Create reciprocal link
   5. Configure link for Oauth, both ways
4. Change default permission scheme to allow "Anyone" the "Browse projects" right
5. Create JIRA project
6. Create test issue in JIRA, copy the URL to the clipboard
7. Go to Confluence dashboard
8. Create new page
   1. Paste URL from JIRA into page (Confluence automatically converts it to the JIRA issue macro)
   2. Or "Insert Jira Issue" and then select a single JIRA Issue.
   3. Save page
   4. NOTE: No error message
9. Go to Confluence Administration
   1. Go to application links
   2. Configure the link
   3. Rename the "Application Name" to something different
   4. E.g., "JIRA (localhost)" -> "JIRA (localhost) - Test Rename"
10. Reload the Confluence page you previously created
    1. Note the error in place of the macro to the JIRA issue.

Workaround

Delete and Recreate the Link with Another name.