I did a quick test and was unable to repro.  Can you post the template html?

<font face="Verdana, Geneva, sans-serif" ><font size="6em">{{Name}}</font> 

<b>B:</b> {{#Phone}}{{Phone}}{{/Phone}}{{^Phone}}Not Provided{{/Phone}} 

<b>F:</b> {{#Fax}}{{Fax}}{{/Fax}}{{^Fax}}Not Provided{{/Fax}}</font>

Unable to repro.

<skuidpage unsavedchangeswarning="yes" showsidebar="true" showheader="true" tabtooverride="Contact" personalizationmode="server">   <models>

      <model id="Contact" limit="1" query="true" createrowifnonefound="false" sobject="Contact">

         <fields>

            <field id="FirstName"/>

            <field id="LastName"/>

            <field id="CreatedDate"/>

         </fields>

         <conditions>

            <condition type="param" enclosevalueinquotes="true" operator="=" field="Id" value="id"/>

         </conditions>

         <actions/>

      </model>

   </models>

   <components>

      <pagetitle model="Contact">

         <maintitle>

            <template>{{FirstName}} {{LastName}}</template>

         </maintitle>

         <subtitle>

            <template>{{Model.label}}</template>

         </subtitle>

         <actions>

            <action type="delete"/>

            <action type="clone"/>

            <action type="share"/>

            <action type="savecancel" window="self"/>

         </actions>

      </pagetitle>

      <basicfieldeditor showsavecancel="false" showheader="true" model="Contact" mode="read">

         <columns>

            <column width="50%">

               <sections>

                  <section title="Basics">

                     <fields>

                        <field id="FirstName" valuehalign="" type=""/>

                        <field id="LastName"/>

                     </fields>

                  </section>

               </sections>

            </column>

            <column width="50%">

               <sections>

                  <section title="System Info">

                     <fields>

                        <field id="CreatedDate"/>

                     </fields>

                  </section>

               </sections>

            </column>

         </columns>

      </basicfieldeditor>

      <basicfieldeditor showheader="true" showsavecancel="true" showerrorsinline="true" model="Contact" buttonposition="" uniqueid="sk-3m5A1n-69" mode="read">

         <columns>

            <column width="50%">

               <sections>

                  <section title="Test Pat's Template" collapsible="no">

                     <fields>

                        <field type="COMBO" valuehalign="" editmodebehavior="autopopup" allowhtml="true">

                           <template>&amp;lt;font face="Verdana, Geneva, sans-serif" &amp;gt;

                              &amp;lt;font size="6em"&amp;gt;{{LastName}}&amp;lt;/font&amp;gt;

                              &amp;lt;br&amp;gt;

                              &amp;lt;b&amp;gt;First Name:&amp;lt;/b&amp;gt; 

                              {{#FirstName}}{{FirstName}}{{/FirstName}}{{^FirstName}}Not Provided{{/FirstName}}

                              &amp;lt;br&amp;gt;

                           </template>

                           <label>Test This! &amp;gt;&amp;gt;</label>

                        </field>

                     </fields>

                  </section>

               </sections>

            </column>

            <column width="50%">

               <sections/>

            </column>

         </columns>

      </basicfieldeditor>

   </components>

   <resources>

      <labels/>

      <css/>

      <javascript/>

   </resources>

   <styles>

      <styleitem type="background" bgtype="none"/>

   </styles>

</skuidpage>

Aha! The snag is in having the field editor in edit mode.

There you go!