The problem is that when trying to do the second insert, sqlite seems to sleep
for a very long time.  Here is the output from strace:

  read(6, "SQLite format 3\0\4\0\1\1\0@  \0\0\0\1\0\0\0\0"..., 1024) = 1024
  nanosleep({4294, 966296000},  <unfinished ...>

I don't know which version this was fixed in, but 3.2.1 definitely fails.