Warning for everyone else: the above causes an infinite loop that opens loads of windows.

I don't think it's a bug, here's why:

When you open a new server window (/server -n) you will have at least 2 status windows open, when /scon gets to the first connection it will open a third status window, when it reaches the second connection it will open a fourth and so on.

mIRC will never get to the final connection because you're opening a new one every time it gets to the next connection.