Ok deffinately a bug or compile problem with the kernel itself. I checked the procps source code and it is relying on being able to read the /proc/<pid>/cmdline output; however, when it tries that is when the oops happens. One can simulate it by trying to cat the cmdline file directly.
root@OpenWrt:/proc/919# cat cmdline
Segmentation fault
This is probably something silly. The program top for example seems to work. Probably because it is only looking for the executable names. How strange.
Mem: 9912K used, 3840K free, 0K shrd, 1012K buff, 3340K cached
Load average: 0.00 0.00 0.00
PID USER STATUS RSS PPID %CPU %MEM COMMAND
1013 root R 400 987 0.9 2.8 top
919 root S 572 847 0.0 4.1 dropbear
987 root S 484 919 0.0 3.4 ash
352 root S < 424 1 0.0 3.0 udhcpc
1 root S 396 0 0.0 2.8 init
847 root S 388 1 0.0 2.8 dropbear
143 root S 364 1 0.0 2.6 syslogd
977 nobody S 360 1 0.0 2.6 dnsmasq
841 root S 328 1 0.0 2.3 crond
146 root S 296 1 0.0 2.1 klogd
151 root S 232 1 0.0 1.6 init
857 root S 176 1 0.0 1.2 httpd
60 root SW 0 1 0.0 0.0 mtdblockd
4 root SW< 0 1 0.0 0.0 khelper
127 root SWN 0 1 0.0 0.0 jffs2_gcd_mtd4
2 root SWN 0 1 0.0 0.0 ksoftirqd/0
3 root SW< 0 1 0.0 0.0 events/0
5 root SW< 0 1 0.0 0.0 kthread
17 root SW< 0 5 0.0 0.0 kblockd/0
45 root SW 0 5 0.0 0.0 pdflush
46 root SW 0 5 0.0 0.0 pdflush