FULL PRODUCT VERSION :
java version "1.8.0_31"
Java(TM) SE Runtime Environment (build 1.8.0_31-b13)
Java HotSpot(TM) 64-Bit Server VM (build 25.31-b07, mixed mode)

ADDITIONAL OS VERSION INFORMATION :
Microsoft Windows [Version 6.1.7601]

A DESCRIPTION OF THE PROBLEM :
/**
 * {@value #MAX_RESOURCES_TO_TRANSFER} elements
 * @see #MAX_RESOURCES_TO_TRANSFER
 */
public class ResourceTransfer {
    private final static int MAX_RESOURCES_TO_TRANSFER= 1000 * 1000;
}

Generate Javadoc for this class using javadoc -protected.

Java 8:
- does not produce any warning
- silently skips "{@value #MAX_RESOURCES_TO_TRANSFER}" in the generated html
  => information is lost
- creates a "See Also:" link that points to an nonexistent anchor

Java 7:
- produces a correct warning:
Generating ...\doc\ResourceTransfer.html...
...\src\ResourceTransfer.java:5: warning - #MAX_RESOURCES_TO_TRANSFER (referenced by @value tag) is an unknown reference.

- skips "{@value #MAX_RESOURCES_TO_TRANSFER}" in the generated html
  => information is lost

- creates a "See Also:" link that points to an nonexistent anchor (warning was missing here as well)

A similar issue has been discussed before, and the conclusion was that there should be a warning for all references to members that are excluded from Javadoc processing (e.g. via -protected): https://bugs.openjdk.java.net/browse/JDK-4108538

REGRESSION. Last worked in version 7u76


REPRODUCIBILITY :
This bug can be reproduced always.