System Information
Linux bubastis 3.10.25-gentoo #10 SMP Thu Jan 30 22:17:35 UTC 2014 x86_64 Intel(R) Core(TM) i7-4800MQ CPU @ 2.70GHz GenuineIntel GNU/Linux
01:00.0 VGA compatible controller: NVIDIA Corporation GK107GLM [Quadro K1100M] (rev a1) (prog-if 00 [VGA controller])
Blender Version
Broken: 2.70
Broken: git bc9e66f0830627e807f720dca4b9d5d8d39e732a
Short description of error
I have an object with the wrong material on it name "frog". I go into the materials pane and change slot 1 to "frog skin 2". I save the .blend file.
When I open the .blend file again the material in that slot is "frog skin" once again (not the new material I just selected and saved).
I will attach the .blend files (there are two since materials and armatures are linked)