RSS Feed/News Switch overlay & HTML in replacement

[ENXF NET]

Trying to make HTML in the switch overlay replacement string working. Any way to get this done? Current markup is:
HTML:

                    <a href="{{ link('forums/watch', $node.Data) }}"
                       data-xf-click="switch-overlay"
                       data-sk-watch="<i class='fa fa-eye-slash'></i>"
                       data-sk-unwatch="<i class='fa fa-eye'></i>">
                        <xf:if is="{$node.Data.Watch.{$xf.visitor.user_id}}">
                            <i...

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