SPF TXT Records resulting in attack warnings

Aloha, folks.

Lately, I've been seeing entries like this in my mail logs, for this 
particular address.  

Jul 14 21:42:46 memnoch sendmail[2003]: i6F1ghkX002003: POSSIBLE ATTACK
from cm68.omega17.maxonline.com.sg: newline in string "error 
(memnoch.sugarat.net: error in processing during lookup of 
m(_dot_)koster(_at_)pobox(_dot_)com: policy result: (error) from rule 
(redirect=%{l1r+}._at_.%{o}._spf.%{d}) )"

Should a sendmail compiled with libspf be able to expand those variable
to something meaningful?

sendmail-8.13.0 + libspf

Thanks for any help you can give,

-Tim

-- 
There are 10 types of people on Earth.  Those who understand binary, and those 
who don't.