Having trouble with the code templates, the variable replacement is not working (4254351)

Typed in c1rec then CTRL + Spacebar and this appears instead of prompting me for replacement values:

 DECLARE
    CURSOR &&c1 IS
       SELECT  FROM   WHERE;
    c1rec &&c1%ROWTYPE;
 BEGIN
    OPEN &&c1;
    LOOP
       FETCH &&c1 INTO c1rec;
       EXIT WHEN &&c1%NOTFOUND;
    END LOOP;
    CLOSE &&c1;
 END;

To resolve the issue, please follow the steps below:

1. Exit Toad.
2. Locate the file Toad.ini in the following directory:

XP:
C:\Documents and Settings\All Users\Application Data\Quest Software\X.X\User Files

Vista/7:
C:\Users\<USER_NAME>\AppData\Local\Quest Software\X.X\User Files

NOTE: X.X is the specific version of Toad.

3. Open the Toad.ini file in notepad and change the below:

from: SubVarPrompt=2
to: SubVarPrompt=0

4. Save the file and re-launch Toad.