Well, one issue I found is that the parameter &PTC_WM_REVISION:D" (all parameters) are not created until you save, so if you create the dwg with a format, it does not/cannot creat the parameter, so the string in the format gets truncated and does not work, becoming just the text string "PTC_WM_REVISION".
Whatever the best fix turns out to be, however, I have a fix:
Ctreate the dwg without the format ("Empty" option), then save it, THEN add the format. The act of saving itself creates the needed parameters, and then the format works just fine.
We'll be doing this until I can figure out why the Intralink parameter works, but not the Windchill one.