HTML encode macros in notification templates

Is it possible to HTML encode a macro in a notification template? I need to html encode the <WF_VALUE> macro.

<WF_PROCESS_INST_RELDATA>
<tr class="ListRow" onmouseover="this.className='ListRowHighLight'" onmouseout="this.className='ListRow'">
    <td class="FieldLabel"><WF_KEY></td>
    <td class="FieldValue">&nbsp;<WF_VALUE></td>
</tr>
</WF_PROCESS_INST_RELDATA>