I've got Active Text enabled. I noticed that the Active Text displays properly in regular body text - UBB.threads is an example and would properly parse to a link.
  • UBB.threads example in a list and does not parse to a link
  • Another list entry
The example above assumes UBB.threads has been set as an active link on this board. This may have been a problem in previous releases, but I just noticed it when updating some Active Text.