Endless FullGCs which slowly grow ParOldGen and seem to lock up the VM

Execution of the test
gc/gctests/LinearListLow
after several iterations seems to go into infinite loop of FullGCs. Running with -XX:+PrintGCDetails goes like this:

[Full GC [PSYoungGen: 28672K->28672K(57344K)] [ParOldGen: 152798K->152798K(172032K)] 181470K->181470K(229376K) [PSPermGen: 2606K->2606K(21248K)], 1.4479940 secs]
... (Several more like this)
[Full GC [PSYoungGen: 28672K->28672K(57344K)] [ParOldGen: 152799K->152799K(172032K)] 181471K->181471K(229376K) [PSPermGen: 2606K->2606K(21248K)], 1.4439020 secs]
... (Several more like this)
[Full GC [PSYoungGen: 28672K->28672K(57344K)] [ParOldGen: 152800K->152800K(172032K)] 181472K->181472K(229376K) [PSPermGen: 2606K->2606K(21248K)], 1.4459620 secs]
... (More like this)

Each time ParOldGen grows by 1K. After a while, another pattern emerges:
...
[Full GC [PSYoungGen: 28672K->28672K(57344K)] [ParOldGen: 152938K->152938K(172032K)] 181610K->181610K(229376K) [PSPermGen: 2606K->2606K(21248K)], 2.8846700 secs]
[Full GC [PSYoungGen: 28672K->28672K(57344K)] [ParOldGen: 152808K->152808K(172032K)] 181480K->181480K(229376K) [PSPermGen: 2606K->2606K(21248K)], 2.8846070 secs]
... (Last two repeat for a while)

Also, VM stops responding to Ctrl-\.

This is only reproducible with -XX:+UseParallelOldGC. The test does not complete the iteration within 15 minutes. With only -XX:+UseParallelGC whole test completes within 30 seconds.