Referenced material link brakes when changin source material type

When changing material for a mesh that is a reference material for any other mesh that has referenced material as its material type the link brakes and a mesh with referenced material stops to be rendered. 

Steps to reproduce:

1. Choose any material except for Referenced for some mesh
2. Choose a referenced material for any other mesh
3. Change the material type of the mesh from step 1 to any other except for Referenced
4. The link for Referenced material from step 2 is now broken and the mesh is not rendered

Expected to be able to change source material for which there are links from the referenced material so that those links are not broken after the change.