Index: webform.module
===================================================================
RCS file: /cvs/drupal-contrib/contributions/modules/webform/webform.module,v
retrieving revision 1.277
diff -u -r1.277 webform.module
--- webform.module	12 Jan 2011 05:01:57 -0000	1.277
+++ webform.module	12 Jan 2011 05:15:50 -0000
@@ -2648,7 +2648,7 @@
         $display_element['#id'] = drupal_html_id('edit-' . implode('-', $display_element['#parents']));
       }
       $replacements['email'][$format]['%email[' . $form_key . ']'] = drupal_render($display_element);
-      $replacements['email'][$format]['%value[' . $form_key . ']'] = isset($display_element['#children']) ? $display_element['#children'] : '';
+      $replacements['email'][$format]['%value[' . $form_key . ']'] = isset($display_element['#value']) ? $display_element['#value'] : '';
     }
 
     // Submission edit URL.