If you are not using AC_CONFIG_HEADERS, value should not contain any ‘#’ characters, as make tends to eat them. (autoconf manual) ...
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ID Status Resolution Sev Product Comp Assignee Reporter Summary
7509 CLOS FIXE nor Sisyphus xemacs-l sbolshakov at unexpanded macros

File a new bug in the "xemacs-lookup" component of the "Sisyphus" product