Universal Work Queue - Setting default value for action parameter gives error

 In Universal work queue when we try to set a default value for an action parameter that has an attached LOV, page errors out with message "The following input contained illegal input value, please re-enter your input or contact the system administrator: < I M G a l t = " L a u n c h L O V " s r c = " / O A _ M E D I A / j t f u l o v . g i f " b o r d e r = 0 > "

here is the error stack:

Error stack of the JSP exception if any:
oracle.apps.jtf.base.resources.FrameworkException: The following input contained illegal input value, please re-enter your input or contact the system administrator: < I M G a l t = " L a u n c h L O V " s r c = " / O A _ M E D I A / j t f u l o v . g i f " b o r d e r = 0 >