When trying to insert a macro as one of the variables in another macro (inline and not in the definition), the export fails in both exporters in different ways.
The issues are with examples 3 and 4, where the interior macro does not close any markup until after the end of the exterior macro. The
new exporter is particularly bad, since in 3 it does not even expand the internal macro (although it does expand it if it is part of the original definition), and in 4 it completely omits $2 when creating the expansion.