You must recompile chdk with this .c file. Easiest way is to install chdk shell and copy the .c to trunk\trnk#\platform\ixus115...\sub\101b and 101c.
Or wait until someone more experienced releases a complete fw with this fix (and other patches like the video limit patch).
Regarding the fix, i think the original capt_seq routine was copied from 1.01a, and that something went wrong. Maybe the original capt_seq works on the 1.01a but i don't have that version in my shoe box of cameras

Can someone with a 1.01a test long exposures over 64 seconds with the unpatched version of the autobuild server and report back?
If 1.01a works then with the modified capt_seq for 1.01b and 1.01c this patch could be included on the autobuild server.