Inserting Code Snippet with parameters throws System.ArgumentOutOfRangeException (4291752)

User inserts a custom Code Snippet into the Editor and gets the following error:

System.ArgumentOutOfRangeException
Specified argument was out of the range of valid values.
Parameter name: The specified indicator overlaps with another existing indicator.
Stack Trace:
   at ActiproSoftware.SyntaxEditor.SpanIndicatorLayer.Add(SpanIndicator indicator, TextRange textRange, Boolean throwOnTextRangeException)
   at ActiproSoftware.SyntaxEditor.SpanIndicatorLayer.Add(SpanIndicator indicator, Int32 offset, Int32 length)
   at ActiproSoftware.SyntaxEditor.IntelliPromptCodeSnippets.Activate(CodeSnippet codeSnippet, Int32 insertOffset, Int32 deleteLength)
   at ActiproSoftware.SyntaxEditor.IntelliPromptCodeSnippets.Activate(CodeSnippet codeSnippet)
   at Quest.Toad.Editor.EditorForm.InsertSnippet(CodeSnippet snippet)
   at Quest.Toad.CodeSnippets.SnippetsManagerControl.OpenFocusedNodeInEditor()
   at Quest.Toad.CodeSnippets.SnippetsManagerControl.treeSnippets_DoubleClick(Object sender, EventArgs e)
   at System.Windows.Forms.Control.OnDoubleClick(EventArgs e)
   at DevExpress.XtraTreeList.TreeList.OnDoubleClick(EventArgs e)
   at System.Windows.Forms.Control.WmMouseUp(Message& m, MouseButtons button, Int32 clicks)
   at System.Windows.Forms.Control.WndProc(Message& m)
   at DevExpress.XtraEditors.Container.EditorContainer.WndProc(Message& m)
   at DevExpress.XtraTreeList.TreeList.WndProc(Message& m)
   at System.Windows.Forms.Control.ControlNativeWindow.OnMessage(Message& m)
   at System.Windows.Forms.Control.ControlNativeWindow.WndProc(Message& m)
   at System.Windows.Forms.NativeWindow.Callback(IntPtr hWnd, Int32 msg, IntPtr wparam, IntPtr lparam)