Maven support : strange behaviour for "update folders"

when I try to click on the "update folders" icon in the Mavn toolwindow I get the following output

Scanning for projects...
Attempting to resolve a version for plugin: org.codehaus.mojo:aspectj-maven-plugin using meta-version: LATEST
Using version: 1.0 of plugin: org.codehaus.mojo:aspectj-maven-plugin
-

Building esf-jhx-ui-web-2.5

Id: com.hsbc.esf:esf-jhx-ui-web-2.5:jar:1.1.0-SNAPSHOT
task-segment:
-

BUILD FAILED
Failed to resolve plugin for mojo binding: >:1.0.0-SNAPSHOT:generate To view full stack traces, please go to the Settings->]]>Maven and check the 'Print Exception Stack Traces' box.


The plugin in question is available in the local repository but not in any remote repository (yet).

Yet, when I try to execute the "generateSources" goal directly on the pom (from the lifecyle subtree context menu) everything works fine.
Everything works fine too when run from the command line.

this is using 8995