question about new spam encoding

[Trevor Harrison]

I just ran into a spam encoding that I haven't seen before.  In a 
text/html message, instead of "text", they put text

Running thru bogolexer, all I'm seeing is the header tokens and some 
nbsp's, but no {'s.  I'm guessing they are considered individual 
tokens and are too short or something.

The message is here: http://www.harrison.org/~trevor/spam1.txt


-Trevor