MySQL 5.5 not starting after master-master configuration

The following master-master configuration worked on MySQL Server 5.1.x(Ubuntu 10.04).

Master1(192.168.2.80)

##################################
#MySQL Replication
##################################
skip-host-cache
skip-name-resolve
event_scheduler = ON
max_connections = 500
max_connect_errors = 1000

server-id = 10
replicate-same-server-id = 0
auto-increment-increment = 10
auto-increment-offset = 1

master-host = 192.168.2.81
master-user = repli
master-password = secret
master-connect-retry = 60

binlog-format = MIXED
#binlog-ignore-db = information_schema
#binlog-ignore-db = lb1

#max_binlog_size = 500M
log-bin = /var/log/mysql/mysql-bin
log-bin-index = /var/log/mysql/bin-log.index

log-slave-updates
report-host = 192.168.2.80
replicate-ignore-db = information_schema
replicate-ignore-db = lb2
replicate-ignore-db = performance_schema

relay_log_space_limit = 3G
relay-log = /var/log/mysql/relay.log
relay-log-index = /var/log/mysql/relay-log.index
##################################

Master2(192.168.2.81)

##################################
#MySQL Replication
##################################
skip-host-cache
skip-name-resolve
event_scheduler = ON
max_connections = 500
max_connect_errors = 1000

server-id = 20
replicate-same-server-id = 0
auto-increment-increment = 10
auto-increment-offset = 2

master-host = 192.168.2.80
master-user = repli
master-password = secret
master-connect-retry = 60

binlog-format = MIXED
#binlog-ignore-db = information_schema
#binlog-ignore-db = lb2

#max_binlog_size = 500M
log-bin = /var/log/mysql/mysql-bin
log-bin-index = /var/log/mysql/bin-log.index

log-slave-updates
report-host = 192.168.2.81
replicate-ignore-db = information_schema
replicate-ignore-db = lb1
replicate-ignore-db = performance_schema

relay_log_space_limit = 3G
relay-log = /var/log/mysql/relay.log
relay-log-index = /var/log/mysql/relay-log.index
##################################

Now it's NOT working on MySQL Server 5.5(ubuntu 12.04). I mean to say when I restart the mysql service after above configuration, mysql server takes long time and dont' start at all. Nothing in mysql logs and are empty. I tried killing mysql and starting it again but still it's not starting and if I remove the above master-master replication configuration then it starts usually. What's wrong I am doing with mysql 5.5?

Thank you!