{subscribe.url} does not parse in Body Html

In the 4.2 Subscribe message template, the html version of the

{subscribe.url}

does not parse and leaves a blank link. The text version of the link works fine.

I saw a possibly similar bug related to how civicrm was parsing tokens in 4.1, however the problem was supposedly fixed.

If this is just my setup, I would appreciate if someone could tell me where to look. I did not change the template from the default before the problem appeared.