This module is end-of-lifed. It depends on the Event module, and that module never had a tagged 6.x release, nor a 7.x branch, and so there is no point in maintaining this module without that one.
About this module
Event Repeat enables the creation of repeating event patterns for node types that are event-enabled. It does this by creating one or more copies of the original event node.
Note: This module deals with automatic creation, editing, and deletion of nodes. It is highly recommended that you run this module on a test site, first, to make sure it does for you what you think it does!
Here's your reason, basically the theming changes in D7 mean the field theming gets bound a lot lot later in the process, so it's not possible to generate the output into a Textarea for you to edit - that said, it is possible that we can come at this from another angle and use tokens instead BUT it means what you see in contemplate admin page will be nothing at all similar to the output.
The Content Template (a.k.a. ConTemplate) module allows modification of Drupal's teaser and body fields using administrator defined templates. These templates use PHP code and all of the node object variables are available for use in the template. An example node object is displayed and it is as simple as clicking on its properties to add them to the current template.