this is indeed good behavior. else all the nicks in front of the text lines won't be hotlinked any more ( the <FooBar> nicks)
only problem is when you have someone with more then 1 mode and you write your own script to display this (like <@+FooBar> ), this won't be hot since it's prefixed with 2 characters.
I asked this once before and it seems it only accepts 1 prefixed mode character and not more...
this is not a bug but intended behavior