http://kongming.net/doae/glitches/open-treasure-chests/
I just updated the introduction page for this bug with a whole mess of solutions which were uncovered during my chats with MeteorStrike. He was really helpful. The page now includes information on how the bug is caused, how it can be avoided, GameGenie codes to keep playing if key items are lost or to re-populate all treasure chests, a GameGenie code which prevents the bug from triggering while playing, and instructions for ROM authors on how hard-code this experimental patch to their games.