This problem is fixed in version 1.4a5-3, uploaded to Debian's unstable distribution on August 24, 2000. Fixed packages are now also available in proposed-updates and will be included in the next revision of Debian/2.2 (potato).
Debian GNU/Linux 2.1 (slink) contains an earlier version of traceroute, which is not affected by this problem.
The traceroute-nanog package is unaffected by this problem.