This module is no longer supported. For an alternate approach at this problem see Token Filter which provides a filter to input formats to tokenize content and has released versions for Drupal 7 and 8.
The user can set Token to replace tokens with actual data when the node is inserted into the database, or when the node is viewed. In the former case, the tokens are replaced, and any subsequent node edit will simply show the actual data in their place. In the latter case, the tokens are preserved, but any viewing of the content will show the data, rather than the tokens.