I have tested this with 2012.1.326 (our latest official version) and the exception seems to be fixed. However, I am not sure whether there are any viable scenarios in which PropertyGridField could be used outside the context of RadPropertyGrid. Would you please share with us what are you aiming to achieve so that we could give you a piece of advice in case it is needed?
the Telerik team
Explore the entire Telerik portfolio by downloading the Ultimate Collection trial package. Get it now >>