Dynamic tokens not displaying correctly in email when using segmentation :{
Hello,
We have an email scheduled to send this weekend and this is what we are seeing in the web version of Outlook Office 365.
The link URLs that use tokens are appearing as shown below:

Here is how the module should and does appear in the Marketo email preview:

Here are the steps to reproduce.
Drag over navigation module.
Make "My Account" link Dynamic by Brand:


Go to Brand and delete link from RTE


Make {{Lead.Brand Name}} dynamic by Brand:

Employ hack to swap out LINK URL:

Hack Step 1: Insert External Image URL in place of {{Lead.Brand Logo}} token
Hack Step 2: Change Link URL
Hack Step 3: Replace External Image URL with {{Lead.Brand Logo}}:

Click SWAP button
Go to PREVIEW and select List:

Send email sample using List contact and email account associated with Outlook.
View email test in Outlook for web.

You can also view a video of these steps here: https://www.awesomescreenshot.com/video/8778753?key=bab101be8dc59a91ae3ef92d12dd5af0
Has anyone seen this issue before and/or have an idea why this might be happening?
I understand that Outlook recently made security updates to their web version, so I'm thinking this could be associated with that update.
Help would be appreciated.
Thank you,
LK