Index: mail_edit.module
===================================================================
--- mail_edit.module	(revision 920)
+++ mail_edit.module	(working copy)
@@ -66,7 +66,7 @@
 
   $tokens = array();
   $tokens = module_invoke($mailkey_obj->module, 'mail_edit_tokens_list', $mailkey_obj->mailkey);
-  drupal_alter($mailkey_obj->id, $tokens);    //allow other modules to alter tokens for specific mailkey id
+  drupal_alter($mailkey_obj->id, $tokens, 'token_list');    //allow other modules to alter tokens for specific mailkey id
 
   $form = array();
   $form['update'] = array(
@@ -401,6 +401,7 @@
   if ($template) {// do not try to alter anything if we didnt modify this mail template
     //fetch our token values
     $tokens = module_invoke($mail_data->module, 'mail_edit_tokens_value', $mail_data->mailkey, $mail);
+    drupal_alter($mail_data->id, $tokens, 'token_values', $mail);    //allow other modules to alter tokens for specific mailkey id
     $result = new stdClass();
     $result->tokens = array_keys($tokens);
     $result->values = array_values($tokens);