[Haskell-cafe] GHC 7.4.1 hangs and memory usage shoots ups to 100% when compiling with -O2

[magesh b]

I'm facing this problem only when I compiled the code using -O2 Flag.
I tried the following,
* Compiled with -O1 Flag (7.4.1), It compiled fine
* Compiled with ghc-7.0.4 with -O2, it's getting compiled successfully but
with the Warning,
SpecConstr
    Function `$wa{v s27vx} [lid]'
      has one call pattern, but the limit is ...

[Module that is getting stuck is using heavy quasiquotation]

Env:
OS: Ubuntu 12.04 [x86_64]
GHC: 7.4.1

Is this a bug?
Anything else should I need to try?
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