Dear Zarko,
Nope, I do not think this behaviour is expected.
Meanwhile, I have also seen and processed your subsequent ADN case 15853735 [CreateReferenceInLink throws exception when calling from reference created from StableRepresentation] and raised a ticket with the development team for that issue, REVIT-153657 [CreateReferenceInLink throws exception when called with StableRepresentation reference -- 15853735].
I'll let you know as soon as I hear back from the development team on that.
Best regards,
Jeremy