ORA-12154 or ORA-12505 when connecting to RAC databases from the command line with -c (4332285)

ORA-12154 or ORA-12505 appears when running the following command from the command line:

toad.exe -c "<user>/<password>@(DESCRIPTION=(LOAD_BALANCE=yes)(ADDRESS_LIST=(ADDRESS=(PROTOCOL=TCP)(HOST=<IP-Address_1>)(PORT=1521))(ADDRESS=(PROTOCOL=TCP)(HOST=<IP-Address_2>)(PORT=1521))(ADDRESS=(PROTOCOL=TCP)(HOST=<IP-Address_3>)(PORT=1521)))(CONNECT_DATA=(SERVER=dedicated)(SERVICE_NAME=<service name for RAC>)))"

Note: ORA-12505: TNS:listener does not currently know of SID given in the connect descriptor
          ORA-12154: TNS:could not resolve the connect identifier specified

WORKAROUND:
None

STATUS:
Waiting for a fix to be released in a future version of Toad for Oracle.