"ArgumentOutOfRangeException" error is thrown when dragging a "SpriteSheet Profile" from Project window-> Scene -> Hierarchy.

Steps to reproduce:
1) Download the attached Project.
2) Find the Empty SpriteShape profile in the Project view.
3) Drag the SpriteShape profile from Project window-> Scene -> Hierarchy without dropping it.
4) Error thrown in the console. (Happens only when you hover over Hierarchy window)

Note:
1. Attached project has a manifest.json file which works with 2018.1.0a7 and later.
2. Video reference attached.

Frequency: Always

Environment: Mac as well as Windows.

Occurring in: 2018.1.0a7

Stack trace: ArgumentOutOfRangeException: Argument is out of range.
Parameter name: index
System.Collections.Generic.List`1[UnityEditor.IMGUI.Controls.TreeViewItem].get_Item (Int32 index) (at /Users/builduser/buildslave/mono/build/mcs/class/corlib/System.Collections.Generic/List.cs:633)
UnityEditor.GameObjectTreeViewDataSource.GetItem (Int32 row) (at C:/buildslave/unity/build/Editor/Mono/GUI/TreeView/GameObjectTreeViewDataSource.cs:144)
UnityEditor.IMGUI.Controls.TreeViewController.IterateVisibleItems (Int32 firstRow, Int32 numVisibleRows, Single rowWidth, Boolean hasFocus) (at C:/buildslave/unity/build/Editor/Mono/GUI/TreeView/TreeViewController.cs:630)
UnityEditor.IMGUI.Controls.TreeViewController.OnGUI (Rect rect, Int32 keyboardControlID) (at C:/buildslave/unity/build/Editor/Mono/GUI/TreeView/TreeViewController.cs:561)
UnityEditor.SceneHierarchyWindow.DoTreeView (Single searchPathHeight) (at C:/buildslave/unity/build/Editor/Mono/SceneHierarchyWindow.cs:583)
UnityEditor.SceneHierarchyWindow.OnGUI () (at C:/buildslave/unity/build/Editor/Mono/SceneHierarchyWindow.cs:409)
System.Reflection.MonoMethod.Invoke (System.Object obj, BindingFlags invokeAttr, System.Reflection.Binder binder, System.Object[] parameters, System.Globalization.CultureInfo culture) (at /Users/builduser/buildslave/mono/build/mcs/class/corlib/System.Reflection/MonoMethod.cs:222)
Rethrow as TargetInvocationException: Exception has been thrown by the target of an invocation.
System.Reflection.MonoMethod.Invoke (System.Object obj, BindingFlags invokeAttr, System.Reflection.Binder binder, System.Object[] parameters, System.Globalization.CultureInfo culture) (at /Users/builduser/buildslave/mono/build/mcs/class/corlib/System.Reflection/MonoMethod.cs:232)
System.Reflection.MethodBase.Invoke (System.Object obj, System.Object[] parameters) (at /Users/builduser/buildslave/mono/build/mcs/class/corlib/System.Reflection/MethodBase.cs:115)
UnityEditor.HostView.Invoke (System.String methodName, System.Object obj) (at C:/buildslave/unity/build/Editor/Mono/HostView.cs:291)
UnityEditor.HostView.Invoke (System.String methodName) (at C:/buildslave/unity/build/Editor/Mono/HostView.cs:284)
UnityEditor.HostView.InvokeOnGUI (Rect onGUIPosition) (at C:/buildslave/unity/build/Editor/Mono/HostView.cs:251)