Seems I have reported glib 1.x version, while I should report glib2
version. So here it is:
$ rpm -q glib2 gtk2 atk pango glibc
glib2-2.4.0-1
gtk2-2.3.5-1
atk-1.5.5-1
pango-1.3.5-1
glibc-2.3.3-17

Will try to reproduce the bug with latest gtk2, pango and atk.

Bad news is with gtk2, pango and atk updated to the latest versions,
the bug is still reproducible.
Good news is I have reveived a better backtrace.
** (gnome-terminal:8227): WARNING **: [Invalid UTF-8]
\xd2\xcf\xc9\xc9\xda\xcf\xdb\xcc\xc1 \xcf\xdb\xc9\xc2\xcb\xc1 (Invalid
or incomplete multibyte or wide character) \xd0\xd2\xc9
\xd0\xd2\xc5\xcf\xc2\xd2\xc1\xda\xcf\xd7\xc1\xce\xc9\xc9
\xc4\xc1\xce\xce\xd9\xc8 \xcf\xd4 \xd0\xcf\xd4\xcf\xcd\xcb\xc1,
\xcf\xd4\xc2\xd2\xc1\xd3\xd9\xd7\xc1\xc5\xd4\xd3\xd1.

** (gnome-terminal:8227): WARNING **:
\xd2\xcf\xc9\xda\xcf\xdb\xcc\xc1\x20 \xdb\xc9\xc2\xcb\xc1\x20 (Invalid
or incomplete multibyte or wide character) \xd2\xc9\x20
\xd2\xc5\xcf\xc2\xd2\xc1\xda\xcf\xd7\xc1\xce\xc9\xc9\x20
\xc1\xce\xce\xd9\xc8\x20 \xd4\x20 \xcf\xd4\xcf\xcd\xcb\xc1\x2c,
\xd4\xc2\xd2\xc1\xd3\xd9\xd7\xc1\xc5\xd4\xd3\xd1\x2e.

(process:8227): GLib-CRITICAL (recursed) **: file gstring.c: line 672
(g_string_erase): assertion `pos >= 0' failed
aborting...

Program received signal SIGABRT, Aborted.
[Switching to Thread 1089144928 (LWP 8227)]
0xffffe410 in ?? ()
(gdb) bt
#0  0xffffe410 in ?? ()
#1  0x40b35c47 in abort () at ../sysdeps/generic/abort.c:88
#2  0x40abdf6b in g_logv (log_domain=0x40adbba6 "GLib", 
    log_level=G_LOG_LEVEL_CRITICAL, 
    format=0x40adbd64 "file %s: line %d (%s): assertion `%s' failed", 
    args1=0xbfffe53c "â#â@â\002") at gmessages.c:522
#3  0x40abdfa4 in g_log (log_domain=0x0, log_level=0, format=0x0)
    at gmessages.c:541
#4  0x40acda9f in g_string_erase (string=0x80ca12c, pos=6, len=1)
    at gstring.c:682
#5  0x40abe5c7 in escape_string (string=0x80ca12c) at gmessages.c:795
#6  0x40abe702 in g_log_default_handler (log_domain=0x80ca12c "\220m'\b", 
    log_level=134988928, 
    message=0x8276d10 "ÐÑоизоÑла оÑибка (Invalid or incomplete
multibyte or wide character) пÑи пÑеобÑазовании даннÑÑ Ð¾Ñ Ð¿Ð¾Ñомка,
оÑбÑаÑÑваеÑÑÑ.", 
    unused_data=0x0) at gmessages.c:888
#7  0x40abde08 in g_logv (log_domain=0x0, log_level=G_LOG_LEVEL_WARNING, 
    format=0x80b95bc "ÐÑоизоÑла оÑибка (%s) пÑи пÑеобÑазовании даннÑÑ
Ð¾Ñ Ð¿Ð¾Ñомка, оÑбÑаÑÑваеÑÑÑ.", args1=0xbfffea8c "Ð|а@ÑÐЪ©\2007б@\001")
at gmessages.c:503
#8  0x40abdfa4 in g_log (log_domain=0x0, log_level=0, format=0x0)
    at gmessages.c:541
#9  0x4037f821 in vte_terminal_send (terminal=0x81996d0, 
    encoding=0x40408cde "UTF-8", data=0x0, length=11038, local_echo=0, 
---Type <return> to continue, or q <return> to quit---
    newline_stuff=0) at vte.c:7566
#10 0x4037f9c9 in vte_terminal_feed_child (terminal=0x81996d0, 
    data=0x831c7d8 "   OSDN : SourceForge - Shop ThinkGeek - freshmeat
- Newsletters - TechJobs - Personals - Slashdot Broadband  \tSearch бâ©
  \t X \r\t\t\t\t\t\r kreazy\r Preferences\r Subscribe\r Journal\r
Logout\r\r Sections\r Main\r"..., length=11038) at vte.c:7676
#11 0x4038123a in vte_terminal_paste_cb (clipboard=0x83b47f8, 
    text=0x81996d0 "п\210\031\b\004", data=0x2b1e) at vte.c:8403
#12 0x4062c051 in request_text_received_func (clipboard=0x83b47f8, 
    selection_data=0xbfffef70, data=0x83b4140) at gtkclipboard.c:805
#13 0x4062beab in selection_received (widget=0x83b4140, 
    selection_data=0xbfffef70, time=251767) at gtkclipboard.c:717
#14 0x406cee6c in _gtk_marshal_VOID__BOXED_UINT (closure=0x83c88b0, 
    return_value=0x0, n_param_values=3, param_values=0x83b4140, 
    invocation_hint=0xbfffeca8, marshal_data=0x0) at gtkmarshalers.c:1180
#15 0x40a35ec9 in g_closure_invoke (closure=0x83c88b0, return_value=0x0, 
    n_param_values=0, param_values=0x0, invocation_hint=0x0) at
gclosure.c:437
#16 0x40a48c9c in signal_emit_unlocked_R (node=0x8174228, detail=0, 
    instance=0x82a73c8, emission_return=0x0,
instance_and_params=0xbfffedc0)
    at gsignal.c:2436
#17 0x40a47d04 in g_signal_emit_valist (instance=0x82a73c8, 
    signal_id=138184880, detail=0, var_args=0xbfffef70 "\001")
    at gsignal.c:2195
---Type <return> to continue, or q <return> to quit---
#18 0x40a480e3 in g_signal_emit_by_name (instance=0x82a73c8, 
    detailed_signal=0x407e3477 "selection_received") at gsignal.c:2263
#19 0x4070ed7d in gtk_selection_retrieval_report (info=0x83b4b18,
type=0x0, 
    format=0, buffer=0x0, length=0, time=0) at gtkselection.c:1804
#20 0x4070eb5c in _gtk_selection_property_notify (widget=0x82a73c8, 
    event=0x82f8178) at gtkselection.c:1688
#21 0x406cd5b0 in _gtk_marshal_BOOLEAN__BOXED (closure=0x83b4b18, 
    return_value=0xbffff100, n_param_values=2, param_values=0x82f8178, 
    invocation_hint=0xbffff128, marshal_data=0x4070ea10) at
gtkmarshalers.c:82
#22 0x40a36217 in g_type_class_meta_marshal (closure=0x82f8178, 
    return_value=0x0, n_param_values=0, param_values=0x83b4b18, 
    invocation_hint=0x0, marshal_data=0x0) at gclosure.c:514
#23 0x40a35ec9 in g_closure_invoke (closure=0x83b4b18, return_value=0x0, 
    n_param_values=0, param_values=0x0, invocation_hint=0x0) at
gclosure.c:437
#24 0x40a4870a in signal_emit_unlocked_R (node=0x8173e28, detail=0, 
    instance=0x82a73c8, emission_return=0xbffff1e0, 
    instance_and_params=0xbffff240) at gsignal.c:2474
#25 0x40a47af3 in g_signal_emit_valist (instance=0x82a73c8, 
    signal_id=138103576, detail=0, var_args=0xbffff3d0 "ХСЪ©")
    at gsignal.c:2205
#26 0x40a47ff4 in g_signal_emit (instance=0x0, signal_id=0, detail=0)
    at gsignal.c:2239
#27 0x407c3ceb in gtk_widget_event_internal (widget=0x82a73c8,
event=0x82f8178)
---Type <return> to continue, or q <return> to quit---
    at gtkwidget.c:3563
#28 0x406caabd in gtk_main_do_event (event=0x82a73c8) at gtkmain.c:1605
#29 0x408cef41 in gdk_event_dispatch (source=0x0, callback=0,
user_data=0x0)
    at gdkevents-x11.c:2133
#30 0x40ab5710 in g_main_dispatch (context=0x80afe68) at gmain.c:1895
#31 0x40ab6748 in g_main_context_dispatch (context=0x80afe68) at
gmain.c:2441
#32 0x40ab6a76 in g_main_context_iterate (context=0x80afe68, block=1, 
    dispatch=1, self=0x80a6080) at gmain.c:2522
#33 0x40ab7083 in g_main_loop_run (loop=0x80b0570) at gmain.c:2726
#34 0x406ca353 in gtk_main () at gtkmain.c:1172
#35 0x0805e539 in main (argc=2, argv=0xbffff684) at terminal.c:1669
#36 0x40b21eab in __libc_start_main (main=0x805e0e0 <main>, argc=2, 
    ubp_av=0xbffff684, init=0x807e14c <__libc_csu_init>, fini=0x2, 
    rtld_fini=0x8088e48 <environ@@GLIBC_2.0>, stack_end=0xbffff67c)
    at ../sysdeps/generic/libc-start.c:209

Feel free to request more info, such as local variables etc.

If this is still an issue with latest rawhide, you should probably
talk to upstream GNOME and make sure this is filed somewhere upstream
in order to get more exposure.

Bug is still reproducible with the following (newer except for the
pango) versions:
$ rpm -q glib2 gtk2 atk pango glibc gnome-terminal glibc
glib2-2.4.0-1
gtk2-2.4.0-1
atk-1.6.0-1
pango-1.4.0-1
glibc-2.3.3-17
gnome-terminal-2.6.0-1
glibc-2.3.3-17

So as you have suggested I have filed a bug to GNOME's bugzilla:
http://bugzilla.gnome.org/show_bug.cgi?id=139741
That bug have a newer backtrace (from gnome-terminal 2.6.0).

This should be fixed in gtk2-2.4.10, I think. Can you check ?