This is evident when calling sm status --debug on package that contains git dirs.
Everything works with node 0.6.19
It starts to act up here: https://github.com/sourcemint/sm-plugin-git/blob/55cc0e86526b07f7ba34181c8cb86c9ce9e74a99/lib/git.js#L745-L761
To reproduce, run sm status --debug on sm try github.com/sourcemint/sm with some dependencies in edit mode.