Can you reload a crossbow while wearing a light shield?

[Legildur]

Actually, it says right in the buckler description that you can use a bow or crossbow with no penalties:

You can use a bow or crossbow without penalty while carrying it.

Losing the AC bonus of a buckler sure sounds like a penalty to me.

I would argue that you are 'losing a bonus [shield bonus to AC]' rather than 'applying a penalty' per se.

My archer character carries a buckler for when he is caught flat-footed, or forced to fight in melee. Otherwise it's 'rain of death' with masterwork composite bow (+4 strength) and usual feats. I don't see a problem with archer not gaining shield bonus, otherwise two-handed fighters could also claim benefit from it... and that would be.... wrong....

 

[Diirk]

Actually, it says right in the buckler description that you can use a bow or crossbow with no penalties:

This refers to the fact that normally you suffer a -1 to attacks for wearing the buckler (if you're using your offhand in the process of the attacks), and is stating bows and crossbows are exceptions to this.

 

[Kmart Kommando]

This refers to the fact that normally you suffer a -1 to attacks for wearing the buckler (if you're using your offhand in the process of the attacks), and is stating bows and crossbows are exceptions to this.

You say it refers to the -1 to attacks, I say it refers to losing the AC bonus. It doesn't actually say either, so it could be either, or both.
This line: "You can use a bow or crossbow without penalty while carrying it. " It is a separate statement with no tie-in to anything but the word "Buckler".
The next line: "You can also use your shield arm to wield a weapon (whether you are using an off-hand weapon or using your off hand to help wield a two-handed weapon), but you take a –1 penalty on attack rolls while doing so. "
By adding "you can also use your shield arm to wield a weapon.." they are clearly indicating that, in addition to what was said before, you can also do this.
So, a bow or crossbow, by the rules as written, does not count as a 'weapon wielded in the off hand' for the purposes of using a buckler.
Therefore, the last line: "In any case, if you use a weapon in your off hand, you don’t get the buckler’s AC bonus for the rest of the round." does not apply to a bow or crossbow.

English FTW