Enable Token module -> matrices won't display

Drupal 6.16, CCK 6.x-2.6, Matrix Field 6.x-1.4, Token 6.x-1.14

In matrix.module, theme_matrix_formatter_default renders the whole matrix when fed the first row, and returns nothing for subsequent rows. Which works fine until you install Token.

When the node has already been rendered once (but not yet displayed), Token proceeds to RE-render it, but since static $rendered in theme_matrix_formatter_default is still set to TRUE, nothing comes out for the matrix fields.