Here's a valid program:
module M = struct
type \#mod = int
end
type t = M.\#mod
And here's the output of -dsource for this program:
module M = struct type \#mod = int end
type t = M.(mod)
But the second program is rejected by the parser. I tested this on the current head of trunk (ad2aecf).
Credit to @dvulakh for pointing out that I have the same bug in a branch of ocamlformat I'm working on, which caused me to wonder how the compiler's own printer handles this example.