Having been in the software development field for more than 20 years, I think there should be consideration of the difference between an OS project and a commercial project such as MC.
OS project lose nothing, other than credibility, for the discussion, examination and resolution of bugs. Commercial products can suffer market-share loss, purchase delays and competitive issues when bugs are publicised. That a commercial vendor is prepared to drive a forum which allows their discussion is great, to place some formal 'laundry list' of perceived (as determined by the user, not the designer) and real bugs in the public domain could damage the company reputation. Also commercial considerations have to be given as well as technical - that most users want bug a, or feature y added may be immaterial if adding feature X would close a major licensing deal.
Perhaps a minor voting system, as Tivo has, where users can vote for certain 'approved' fixes or enhancements - to help steer priority might work - but a formal bug tracking system in the public domain would be a very bad idea IMHO.
Nige ...
(been on the wrong end of this thing before - it hurts, commercially and technically)