We have a lot of posts that were written at a time when this markup was correctly rendered (prior to the migration from the SMF framework to Discourse) .
I have this confirmed as a core bug which we hope to fix over the next few weeks.
Specifically:
[url]http://example.com[/url] will work however: [url]http://example.com/example[/url] does not unless you add a trialing space [url]http://example.com/example [/url] .
I started stepping through stuff and it looks like something is tripping our parser here, possibly an escape rule. We will get this sorted, thanks for raising it.
I’m not super familiar with this code, but I took a quick look. I think it has something to do with the auto-linkify system. By the time the parser goes looking for the close url tag [/url], it has already been incorporated into an autolink.
e.g. note that the autolink here is to http://example.com/foo%5B/url%5D