File is universal (three slices), but it does not contain a(n) ARMv7-s slice error for static libraries on iOS, anyway to bypass?
If you want to remove the support for any architecture, for example, ARMv7-s in your case, use menu Project -> Build Settings -> remove the architecture from "valid architectures".
You can use this as a temporary solution until the library has been updated. You have to remove the architecture from your main project, not from the library.
Alternatively, you can set the flag for your debug configuration's "Build Active Architecture Only" to Yes. Leave the release configuration's "Build Active Architecture Only" to No, just so you'll get a reminder before releasing that you ought to upgrade any third-party libraries you're using.
I've simply toggled "Build Active Architecture Only" to "Yes" in the target's build settings, and it's OK now!
Try to remove armv7s from project's "Valid architecture" to release from this issue for iOS 5.1 phone