Getting a PipeException (pipe is closing) with a WCF service that uses NamedPipesBinding

I am just learning WCF, trying out different things.

I have set up the following service:

[ServiceBehavior(IncludeExceptionDetailInFaults = true , 
    InstanceContextMode = InstanceContextMode.Single)]
    public class TestService : ITestService
    {
        // This operation is defined as OneWay.
        public void Throws()
        {
            throw new ArgumentException();
        }
    }

I use it from my client like so:

var baseAddress = new Uri("net.pipe://localhost/hello");

// Create the ServiceHost.
using (ServiceHost host = new ServiceHost(typeof(TestService), baseAddress))
{
    var netBinding = new NetNamedPipeBinding(NetNamedPipeSecurityMode.None);
    host.AddServiceEndpoint(typeof(ITestService), netBinding, baseAddress);
    host.Open();

    Console.WriteLine("The service is ready at {0}", baseAddress);

    // Create client channel.
    var channel = ChannelFactory<ITestService>.CreateChannel(netBinding, new EndpointAddress(baseAddress));

    ((ICommunicationObject)channel).Open();

    try
    {
        foreach (var i in Enumerable.Range(0, 5000))
        {
            // channel dies after a few attempts.
            channel.Throws();
        }
    }

The method Throws is defined as IsOneWay = true, meaning it does not propogate any message back to the client (including errors).

When running in a loop, the communication object faults after some runs. I cannot figure out the cause of this.

The exception details:

System.ServiceModel.CommunicationException: There was an error writing to the pipe: The pipe is being closed. (232, 0xe8). ---> System.IO.PipeException: There was an error writing to the pipe: The pipe is being closed. (232, 0xe8). at System.ServiceModel.Channels.PipeConnection.StartSyncWrite(Byte[] buffer, Int32 offset, Int32 size, Object& holder) at System.ServiceModel.Channels.PipeConnection.Write(Byte[] buffer, Int32 offset, Int32 size, Boolean immediate, TimeSpan timeout, BufferManager bufferManage r) --- End of inner exception stack trace ---

Note that if i change the body of Throws method to something else, like Console.WriteLine, everything is running fine.

EDIT: I have uploaded the sample project to my SkyDrive: http://sdrv.ms/NumUbR

In case someone wants to compile it locally and see if it behaves the same.