Last modified: 2012-09-18 13:39:12 UTC
According to http://en.m.wikipedia.org/wiki/Selachophobia, the article doesn't seem to exist. However, http://en.m.wikipedia.org/wiki/List_of_phobias happens to have a link to the article that is blue, *not* red in the case of an article that doesn't exist. Not to mention that http://en.m.wikipedia.org/wiki/Special:Search/Selachophobia also indicates at the very top of the search page that the article exists. Definitely a mobile site bug...
The page does 'exist', it's just a template pointing to Wiktionary (https://en.wikipedia.org/wiki/Template:Wiktionary_redirect). This is fairly common practice at least on the English Wikipedia. Not a bug.