First of all there has been questions ( DropDownList has a SelectedValue which is invalid because it does not exist in the list of items , DropDownList "has a SelectedValue
I've submitted a bug on Connect for the issue. It was resolved as "Won't fix" which in my mind means it is in fact a bug. A workaround was provided:
ddlTest.Items.Clear();
ddlTest.SelectedValue = null;
https://connect.microsoft.com/VisualStudio/feedback/details/666808/asp-net-dropdownlist-selectedvalue-is-persisted-which-results-in-exception-if-the-control-is-databound-second-time
I kind of consider this the answer.