Emails Fail to send when Smart Field Values are included in Message

When users create an email and add CRM Smart Field values to the message, the emails fail to send.  The Status Report for the email include error System.Data.SqlClient.SqlException (0x80131904): Incorrect syntax near '.'.
We're currently evaluating this issue for a fix in a future patch or service pack.  

Environment

 Blackbaud Internet Solutions
 4.0
 4.0.141

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