As discussed at great length in section 33.3 of Extended STL, volume 1, the Windows Registry API is one that is prone to race conditions, due to the fact that separate processes may make independent changes to the registry contents without any control over each other.
The recently discovered defect in the WinSTL Registry Library's winstl::basic_reg_value class, gave me cause to consider the implementation in detail again. It's been a long time since I've done that, and with the understanding of the registry race-conditions I gained while researching and writing Extended STL, I saw immediately the possibility of such a race accounting for the reported fault.
Consider again the implementation of winstl::basic_reg_value<>::value_sz() method. Assume that prior to the invocation of winstl::reg_traits<>::reg_query_info that the registry-value's value was non-zero size. The call commences. Meanwhile, another process overwrites the registry-value, with a zero size. reg_query_info returns, and indicates that the data size is zero. Without a further check on the data size, the same fault will be experienced. Naturally, the fix for the non-race defect will fix the race one as well. Which is nice.