Please note that test crashes only when VM uses shared classes.
Here is the VM output:
# To suppress the following error report, specify this argument
# after -XX: or in .hotspotrc: SuppressErrorAt=/genCollectedHeap.cpp:181
#
# A fatal error has been detected by the Java Runtime Environment:
#
# Internal Error (/tmp/jprt/P2/B/191811.ap31282/source/src/share/vm/memory/genCollectedHeap.cpp:181), pid=2328, tid=2
# Error: assert(total_reserved % pageSize == 0,"Perm Gen size")
#
# JRE version: 7.0-b73
# Java VM: Java HotSpot(TM) Client VM (17.0-b01-2009-10-03-191811.ap31282.hs-merge-fastdebug mixed mode, sharing solaris-x86 )
# An error report file with more information is saved as:
# /export/local/22430.JDK7.NIGHTLY.VM+solaris-i586_client_mixed_LANG_REGRESSION/results/workDir/java/lang/StringCoding/Enormous/hs_err_pid2328.log
#
# If you would like to submit a bug report, please visit:
# http://java.sun.com/webapps/bugreport/crash.jsp
#


Here is the link to the failure report:
http://sqeweb.sfbay.sun.com/nfs/results/vm/gtee/JDK7/NIGHTLY/VM/2009-10-03/Main_Baseline/javase/solaris-i586/client/mixed/solaris-i586_client_mixed_LANG_REGRESSION/workDir/java/lang/StringCoding/Enormous/

The hs_err is in the attachment.
In fact,
java -Xmx128M -version
crashes too (with fast debug build and class data sharing).
To reproduce on a solaris intel:

# Ensure that 4MiB large pages are available:
$ pagesize -a
4096
4194304
# Generate the classes.jsa file with large pages disabled.
$ bin/java -client -XX:+UseSerialGC -Xshare:dump -XX:-UseLargePages
# Run the vm with large page size of 4MiB.
# bin/java -client -XX:+UseSerialGC -XX:+UseLargePages -XX:LargePageSizeInBytes=4m -version

On solaris sparc, a large page size > 4MiB must be used because the default page size is 8K.