VM causes strange stack overflow (while naïve interpreter does NOT)

[gfngfn]

Typesetting the following document foo.saty by invoking the command$ satysfi --bytecomp foo.saty fails due to stack overflow, while typesetting it by $ satysfi foo.saty does NOT:

@require: stdja

let-inline \repeat n it =
  let-rec aux n it =
    if n <= 0 then {} else
      let it-after = aux (n - 1) it in {#it;#it-after;}
  in
    aux n it
in

document (|
  title = {Sample Document}; author = {gfn};
  show-title = false; show-toc = false;
|) '<
  +p{\repeat(2){foo}}
>

The stdout and stderr is as follows:

 ---- ---- ---- ----
  target file: 'foo.pdf'
  dump file: 'foo.satysfi-aux' (will be created)
  parsing 'foo.saty' ...
  parsing 'stdja.satyh' ...
  parsing 'pervasives.satyh' ...
  parsing 'gr.satyh' ...
  parsing 'geom.satyh' ...
  parsing 'list.satyh' ...
  parsing 'math.satyh' ...
  parsing 'color.satyh' ...
 ---- ---- ---- ----
  reading 'pervasives.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'list.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'color.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'geom.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'math.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'gr.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'stdja.satyh' ...
  type check passed.
 ---- ---- ---- ----
  reading 'foo.saty' ...
  type check passed. (document)
 ---- ---- ---- ----
  evaluating texts ...
Uncaught exception:

  Stack overflow

Raised at file "lib/read.mll", line 712, characters 13-36
Called from file "lib/read.mll", line 241, characters 23-47