Personally, I don't believe it is a bug at all. They have obviously made the decision to not enforce case in an effort to reduce customer service load/player frustration.
Yes, it reduces the time needed to brute force your password if someone got hold of their user DB. But 1) we are still talking an excessively long time (their min. password length is 8) and 2) once they have that, you may have bigger problems.
Whilst this is only anecdotal (over several years of WoW/SC2), the majority of compromised Battle.net accounts are through keyloggers/malware and phishing scams. In those cases, you can have a 40 character password with all the case sensitivity you like and it won't matter at all.