Had this happen today on 1.7.1 +beta. Was trying to place a tent but it appears to still be broken in 1.7.1 so it would not place. I started moving and spamming place tent and it kept making the noise and not placing it so I finally gave up. I went to drop the tent and found that I could drop a lot of tents out of the same item slot. Finally after dropping about 10 tents it gave me my 3 slots back. Seems not only is tent placement still bugged but you can dupe them easily. No idea why you'd want to though since you still can't put them anywhere.
