I'm not sure on how bug hunting is done. But the "bug" has entered the game with the travelling merchant update (see my post in the VITA crash topic), my version is on the update right before it and I have never had a save crash (and my 16gig card is almost full, damn sony an their high prices ), and I have many worlds filled with every item my update can give (have several "backup-vault-worlds" to with only chests upon chests with material/items).
So 505 (at least in my little knowledge I have about code) could compare version 1.05 and 1.06 and look at what code got added in 1.06, then they could look at each of that added code one by one, to see if nothing conflicts with any of the code in 1.05 in a serious way.
And by way of eliminating, you might be able to pinpoint the cause (could be something trivial like the travelling merchant being hit by a slime offscreen, causes the next save to be corrupt and crash the game).
Might be allot of work, but I can say for 99% sure that the 1.05 update (the 1.05 mentioned in this link: http://terraria.wiki.gg/Console_Version_history not sure if 505 has other names for the updates), does not give crashes, since I have made some serious trap-setups and spawned allot of each event, shooting left and right, draining oceans, mining away half the world, spawning bosses over and over, uploaded/downloaded chars/worlds, ... so 1.05 should be a safe point to use as comparison for the bug hunting
(then again, I'm not a bughunter expert, so it probably has some more things in the mix to pinpoint a bug, but "by way of eliminating" works for many things irl, so yeah, who knows, depends how many people work on the vita version at 505)
^^Thats me^^
Alrighty, time to do science!
I was doubting allot these last few weeks if I should finally update from my safe 1.05 version to the crash-monster-current-version.
First I was like "nopenopenope, it wont be good for your bloodpressure Vraccas, keep the stable version!"
But then logic kicked and said: "Its already been a couple of months since you last played Terraria on your vita, since you already achieved almost all you could, so what is there to loose in updating?"
So yeah, logic prevailed, and I'll finally update to the newest version of Terraria, and play a bunch of days on it (with sound off and autosave off) to see if it crashes. Seeya all in a few days, and hopefully I'll return with good news