Nope... that was actually my first thought. I tried removing all other translations, with no success.
Note that I was having the same problem in Perl, as per the discussion on
https://www.ubbdev.com/threads/perl/showthreaded.pl?Cat=&Board=custom&Number=43145 .
I wonder if it's something specific to my server/php/mysql installation. In any case, I don't think it's too important: I think I disagree with the use of > as part of an automatically translated smiley: it creates too many exception conditions, that would need to be reverse-translated. These were heroically identified by Powerlord on
http://www.vgmusic.com/~powerlord/wwwthreads/5.4.4php/Smileys.txtMax