@eschwartz: it is nice to see someone using the more powerful bits of template language.
For something as complicated as this template you might consider using a custom template function. This is especially true if the template is for a composite column. For a save template, performance is not such a concern.
Re the one line templates: I think you can right click on the save box and open a template editor. Also, there is no problem pasting in a template containing newlines. The same template parser is used for all program mode templates, no matter where they come from.