You can't really it a "bug" so much as "you not bothering to implement what you promised". The issue was entirely predicable, and a workaround would be trivial. When you told techcrunch about the promo, you obviously knew it didn't exist. It's hard to call that anything but a lie.
While I agree that more testing was called for (ie. try your own promo before telling people about it), calling this a lie is way over the top. Being embarrassed in front of the TC crowd is punishment enough. Let's be serious, people: it's not like he was expecting to get rich off charging $1 instead of $0.
I'm guessing he programmed a promo code system into Skribit and didn't test it before giving the code out to TC. I've done stupid shit like that. Does that make me a liar?
In case this wasn't clear, he didn't just "fail to test the code". He consciously put $1, where it was promised to be free. That is, he chose to not deliver what was promised. Not a "bug". Not a "mistake".
Seriously though, it seems wrong to put an .m4v file behind the "What is Skribit?" on the home page. None of my systems can play that. Is that an iTunes file? I don't 'do' iTunes, though I may be alone in that respect.