Index: src/main/java/org/apache/jackrabbit/core/persistence/bundle/util/ItemStateBinding.java
===================================================================
--- src/main/java/org/apache/jackrabbit/core/persistence/bundle/util/ItemStateBinding.java	(revision 703382)
+++ src/main/java/org/apache/jackrabbit/core/persistence/bundle/util/ItemStateBinding.java	(working copy)
@@ -151,10 +151,21 @@
             throws IOException {
         NodeReferences state = new NodeReferences(id);
         int count = in.readInt();   // count & version
-        // int version = (count >> 24) | 0x0ff;
+        int version = (count >> 24) & 0x0ff;
         count &= 0x00ffffff;
+        
         for (int i = 0; i < count; i++) {
-            state.addReference(readPropertyId(in));    // propertyId
+            if (version >= VERSION_2) {
+                state.addReference(readIndexedPropertyId(in));
+            }
+            else if (version >= VERSION_1) {
+                state.addReference(readPropertyId(in));
+            }
+            else {
+                // for backward Serializer compatibility
+                // initially BundlePMs used Serializer instead of BundleBinding by accident
+                state.addReference(PropertyId.valueOf(in.readUTF()));
+            }
         }
         return state;
     }
@@ -173,7 +184,7 @@
         out.writeInt(c.size() | (VERSION_CURRENT << 24)); // count
         for (Iterator iter = c.iterator(); iter.hasNext();) {
             PropertyId propId = (PropertyId) iter.next();
-            writePropertyId(out, propId);
+            writeIndexedPropertyId(out, propId);
         }
     }
 
@@ -461,4 +472,27 @@
         Name name = readQName(in);
         return new PropertyId(new NodeId(uuid), name);
     }
+
+    /**
+     * Serializes a PropertyId
+     * @param out the output stream
+     * @param id the id
+     * @throws IOException in an I/O error occurs.
+     */
+    public void writeIndexedPropertyId(DataOutputStream out, PropertyId id) throws IOException {
+        writeID(out, id.getParentId());
+        writeIndexedQName(out, id.getName());
+    }
+
+    /**
+     * Deserializes a PropertyId
+     * @param in the input stream
+     * @return the property id
+     * @throws IOException in an I/O error occurs.
+     */
+    public PropertyId readIndexedPropertyId(DataInputStream in) throws IOException {
+        UUID uuid = readUUID(in);
+        Name name = readIndexedQName(in);
+        return new PropertyId(new NodeId(uuid), name);
+    }
 }