Variable not recognised as a placeable

I have more than one TM in my project. One of the TMs includes a variable list.

When the TM with a variable list is the first TM in the project settings, then the variables are recognised as placeables (they are shown with a blue underline).

When the TM with a variable list is not the first TM, then the variables are not recognised as placeables.

Can anyone reproduce this problem? Or is it unique to me?

Regards,

Bruce