Yes you can, to some extent. Placing a lead token within a rich text field will work fine. But where we would really like to use this is for the custom disclaimers that are required on our event registration forms. In this case, a local, program token - e.g., {{my.EventDisclaimer}} would be used to produce the custom disclaimer, while using a single form. Unfortunately, when doing this, the form doesn't even display on the landing page. So while you can use lead (and probably even system) tokens, local tokens do not work - at least in our testing.
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