Proposed resolution (February, 2012):

Change 9.5.5 [dcl.init.list] paragraph 7 as follows:

A narrowing conversion is an implicit conversion

• ...

• from an integer type or unscoped enumeration type to an integer type that cannot represent all the values of the original type, except where the source is a constant expression and the actual value after conversion whose value after integral promotions will fit into the target type and will produce the original value when converted back to the original type.

[Note:...