Last sword... Thanks for watching Bungie!
Fun fact: I even play it safe, dropping the sword before his shield goes back up (pay close attention and you'll notice it, too)
edit: Look at my following run http://youtu.be/CgV_Y0d6sCY on this vid you can see that I drop the sword after he turns red and he goes through his usual animation.
Consortium757 pointed out that the glitch is triggered more often than not if you are standing to close/in front of Crota. I personally find this to be not true since if you look at the 2nd vid, I'm standing right in front of him as well and he goes through his animation normally. That said, I don't think its a bad tip and Hopefully it helps other people there avoid this.
-
No bug, just Crota kicking your ass :)