Hi,
I'm running PM 4.6.6 on Mac OS X 10.6.7 on a MacBook Pro w/an Intel Core 2 Duo 2.4Ghz processor, 4GB of RAM, with 340GB of free HD space. I am in charge of applying metadata to photos taken by a team of photographers, and I have an IPTC template for setting the photographer and basic caption fields. Here are the relevant fields:
Photographer: John Doe
Copyright: Copyright (c) {yr4} {photog}
Caption: blah blah blah. Photo by {photog}. {copyright}
When I apply this template, the resulting caption looks like this:
blah blah blah. Photo by John Doe. Copyright (c) 2011 {photog}
I was expecting the {photog} field to be interpreted by PM and replaced with the photographer's name.