And here's a working solution: http://jsfiddle.net/Palestinian/8nM4u/
At least until this bug is solved, you should subscribe to bug report I left you in my comments on top.
Here's additional code you need for this to work correctly:
$(document).on("pagecreate", function () {
$("[data-role=panel]").one("panelbeforeopen", function () {
var height = $.mobile.pageContainer.pagecontainer("getActivePage").outerHeight();
$(".ui-panel-wrapper").css("height", height + 1);
});
});
And say hi to Omar, he made you this solution. :)