between 5.0 and 5.1.
  
The problem was that in the patch for Bug#11986 it was decided
to store original query in UTF8 encoding for the INFORMATION_SCHEMA.
This approach however turned out to be quite difficult to implement
properly. The main problem is to preserve the same IS-output after
dump/restore.
  
So, the fix is to rollback to the previous functionality, but also
to fix it to support multi-character-set-queries properly. The idea
is to generate INFORMATION_SCHEMA-query from the item-tree after
parsing view declaration. The IS-query should:
  - be completely in UTF8;
  - not contain character set introducers.
  
For more information, see WL4052.