We noticed that the placeholder $(ManageOptIn) is not replaced by the localiced ressource during a scheduled newsletter job.
So I upgraded 04.10.00 to 04.10.30 (I get a error executing 04.10.10.SqlDataProvider: Invalid Column Name 'TeaserDraft' and 'TeaserTextOnly'. I was able to solve this problem manually.)
After upgrade I have still the same problem.
The placeholder $(ManageOptIn) is replaced during scheduled newsletter sending by 'Mangage Your Subscription' (it's not missspelled), I checked ManageSubscriptions.Text in AdvancedNewsletters.ascx.resx and in ViewReport.ascx.resx. Both files are also portal localiced (AdvancedNewsletters.ascx.de-CH.Portal-3.resx and ViewReport.ascx.de-CH.Portal-3.resx).
Then I cleared the cache, made a IISRESET and checked again with same result.