Proposed resolution:

This wording is relative to N3797.

1. Modify [ostream.seeks]p5 as indicated:

   basic_ostream<charT,traits>& seekp(off_type off, ios_base::seekdir dir);
   

   -5- Effects: If fail() != true, executes rdbuf()->pubseekoff(off, dir, ios_base::out). In case of failure, the function calls setstate(failbit) (which may throw ios_base::failure).

   -6- Returns: *this.