Bukkit

What steps will reproduce the problem?
1. Set parachute to squid
2. get rid of parachute timer
3. jump of somewhere really high and deploy squid parachute

What is the expected output? What do you see instead?
Parachute lasts forever, however squid dies.
Also the squid drops a loot.

What version of the product are you using?
1.3.1

Do you have an error log of what happened?
No

Please provide any additional information below.
The entity dies because it is out of water, and it drops loot.