Error ORA-06550/PLS-00320 when running package with REF CURSORs in the code. (4241966)

When executing a REF CURSOR procedure with any of the REF CURSOR Results option checked from the Set Parameters | Output Options, the following error may occur:

ORA-06550: line 3, column 14:
PLS-00320: the declaration of the type of this expression is incomplete or malformed
ORA-06550: line 3, column 14:
PL/SQL: Item ignored

WORKAROUND:
Uncheck on any of the REF CURSOR Results option from the Set Parameters | Output Options or fully declare the cursor in code.

STATUS:
Issue fixed in version 9.1.0.   The latest version of Toad for Oracle can be downloaded here.