but for 2.. its //set %variable value
I know /set works, but since the %var = value statement is some sort of macro for /set, I don't see a reason for it not to work.
Try the following and you'll know what I mean:
//echo -a $(%var = value)
Using double slashes or not has nothing to do with it either, try:
//var %i | %i = 5 | echo -a %i
This will stop executing when it hits %i = 5, which leads to not producing the /echo.