The other problem is that %drop2 isn't always 4 characters. Older caches might have 3 or even 2!
Hehe, I bet we all do it differently! My complete one for my GPSr (which allows 10 chars) is: %drop2%bug=+-%typ1%con1%dif1%ter1%last4. So the infamous Mad Eye Moody looks like this: PX5Z-TU53F. That way at a glance, I can see the GC code, whether there's a TB in it, the type, container, difficulty and whether it was last found or not found (note: I have to use MapSource to move these into my GPSr because GSAK (i.e GPSBabel) won't allow transferring the +/- chars).
For cachemate, it looks like this: %drop2-%typ1%con1%dif1%ter1-%shortname. Similar, except I don't want the TB or found flags (the waypoint has to be constant). Plus it's not limited to 10 chars. By starting them both with %drop2, I can cross reference them easily.
Right now for GoogleEarth, I'm using this: %drop2/%typ1%con1%dif1%ter1/%last4/%shortname
But it just gets too cluttered. Still looking for an easy way to make the waypoint labels only appear when you mouseover an icon.