Watched words - replace link/url works in test but not in post

Maybe this is me doing something wrong, but I don’t seem to get watched word replace (or link) work with urls.

To recreate:

  1. In watched_words section I add this to word: to look for
  2. And this to replace with:

That is:

When I use the Test-button, it works:

But when I test the same in a post, it doesn’t match.