Incorrect PROJECT_NAME on switching workspace

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I've have experienced a problem when switching workspaces where the PROJECT_NAME variable retains the name of the project from the previous workspace.

Steps to reproduce the problem:

Start Code::Blocks with a blank workspace.
Create a new empty project called A.
In Build Options -> Pre/post build steps add the following:
  cmd /C echo $(PROJECT_NAME)
Save the workspace as A.workspace.

Repeat the steps above but name the project B and save the workspace as B.workspace.

Exit Code::Blocks
Start Code::Blocks and open A.workspace.
Build the project. The output will be:

Code

-------------- Build: Debug in A (compiler: GNU GCC Compiler)---------------

Linking stage skipped (build target has no object files to link)
Running target post-build steps
cmd /C echo A
A

Click on File->Recent projects and select B.workspace.
(Don't open via File->Open)

Build the project. The output will be:

Code

-------------- Build: Debug in B (compiler: GNU GCC Compiler)---------------

Linking stage skipped (build target has no object files to link)
Running target post-build steps
cmd /C echo A
A

Note that the command line has incorrectly used A for PROJECT_NAME whereas the Build heading correctly shows B.

Code::Blocks 12.11
WinXP

[oBFusCATed]

(Don't open via File->Open)

Does it work if you use it?

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(Don't open via File->Open)

Does it work if you use it?

Yes and no. It will sometimes work and other times it won't. I haven't noticed a consistent pattern.

By selecting the workspace via File->Recent projects I get the problem occuring consistently every time.