If I provide the input:
[code] for i in var: print(var[i]) [/code]
precise-bbcode does not actually format that line as code (and it remains as plain text).
This has been the case for over a year.
So after digging through the source I have found a few lines that after changing got things working correctly.
I have provided a fix for this issue here.
But I am unsure if this is the proper way to solve the issue.