Scenario:
I want to have a watched word, say GET (no quotes) and I want to replace it with ## GET to make it an H2 header. I create that watched word and its replacement, but when I compose a message with GET, and hit save, my post returns this:
It seems that it should be rendering this as markdown.
I think you may be able to achieve this using HTML now:
(Replace text with more than just links? - #23 by zogstrip)
You can now select ‘Outputs HTML in the replacement’ as an option for each Watched Word in Replace and Link.
Markdown is still not supported, but I think that’s more of a feature request as well, so I’ll slide this over. 
