Planet13 - 7:30 pm on Feb 2, 2012 (gmt 0)
I would be surprised if something simple as that would cause side-wide penalty.
I would be, too.
A competitor of mine has a HORRIBLE canonical link error on their home page. It hasn't seemed to cause any ranking problems at all, though.
On their home page the canonical link points to a page that doesn't exist (ie., a 404 page). that's just about the biggest mistake you can make with a canonical link (aside from pointing it at a competitor's site).