Views not seeing tokens in Global:Custom content

I am trying to create a custom block view and amy composing the layout of each node (record) inside a Custom content field. I have placed all required fields ahead of the Custom content field and set "Exclude from display" for each of the field to prevent duplicate displays. I populate the custom content field using the tokens available (title, body, and a thumbnail).

The problem is, none of the tokenized data shows up. I backtracked and tried use tokens in the actual field by checking "Rewrite the output of this field". Again, the tokens did not display. I have checked permissions, and have tied all sorts of variants within views. But it just does not work. I have been able to set things up like this on other sites.

The only variable I can find is that this particular site is running in a PHP 4.x environment. and all other sites I have used this feature with are in PHP5.x environments.

The fields layout is as follows:

Content: Thumbnail Default
Node: Title Title
Node: Body Body
Global: Custom text

The contents of the Custom text field is:

Block [title] [body]

Output form this is

Block
Block
Block

There is not title or body being displayed.

Is there any know issue with using this feature in a PHP4 environment? If not, is there some other reason this may not be working on this site? Any directions would be appreciated.

Thanks and take care,
~Gray~