BUG: Problems with LaTeX exporting of ^ and _

["Daniel J. Sinder" <djsinder@gmail.com>]

Consider the following simple org file:
-- start org file --
#+OPTIONS:   ^:{}

* This is a test
   - This is a super^script
   - This is a sub_script
-- end org file --

If I export this to HTML, as expected I get this (relevant portion 
only):
<ul>
<li>
This is a super^script
</li>
<li>
This is a sub_script
</li>
</ul>

But, if I export to LaTeX, I surprisingly get this:
\begin{itemize}
\item This is a $super^{script}$
\item This is a $sub_{script}$
\end{itemize}

I would expect no superscript and no subscript because I didn't use 
braces and I have ^:{} in my OPTIONS line.

Things get plain weird if I use braces in the first item, so my org 
file is now this:
-- start org file --
#+OPTIONS:   ^:{}

* This is a test
   - This is a super^{s}cript
   - This is a sub_script
-- end org file --

HTML output in this case is still what I'd expect:
<ul>
<li>
This is a super<sup>s</sup>cript
</li>
<li>
This is a sub_script
</li>
</ul>

But the LaTeX output is not at all what I'd expect:
\begin{itemize}
\item This is a $super^{s}$cript
\item This is a sub_script
\end{itemize}

Note that now the second item has changed in latex even though it 
didn't change in the org file.  Plus it actually throws an error in 
latex because there is no equation environment and no escape of the 
underscore.  The first item is also a problem because the equation 
environment splits in a strange place, causing fonts to get mixed. 
Ideally, it should be
\item This is a $\mbox{super}^{\mbox{\scriptsize{s}}}$cript
but I'd settle for this
\item This is a $super^{s}cript$

Dan