SQL 2012 sys.trace_xe_action_map and synonym dbo.trace_xe_action_map

Why would the creation of a synonym for sys.trace_xe_action_map to accommodate its relocation from its previous schema dbo.trace_xe_action_map not function correctly from the SharePoint 2007 Configuration Wizard?  The synonym works fine from within SQL Server Management Studio.  The execution of both is occurring under the same account.  Is there some other potential security issue I'm overlooking?

I am looking for the answer to this question, not a "SharePoint 2007 is not supported on SQL 2012" response. 

Thanks...Russ