diff --git a/lib/liquid/i18n.rb b/lib/liquid/i18n.rb
index 44641e4..0404c01 100644
--- a/lib/liquid/i18n.rb
+++ b/lib/liquid/i18n.rb
@@ -24,10 +24,10 @@ module Liquid
 
     private
     def interpolate(name, vars)
-      name.gsub(/([^\\]):(\w+)/) {
-        raise TranslationError, translate("errors.i18n.undefined_interpolation", :key => $1, :name => name) unless vars[$2.to_sym]
-        "#{$1}#{vars[$2.to_sym]}"
-      }.gsub("\\:", ":")
+      name.gsub(/%{(\w+)}/) {
+        raise TranslationError, translate("errors.i18n.undefined_interpolation", :key => $1, :name => name) unless vars[$1.to_sym]
+        "#{vars[$1.to_sym]}"
+      }
     end
 
     def deep_fetch_translation(name)
diff --git a/test/fixtures/en_locale.yml b/test/fixtures/en_locale.yml
index ee7983f..0b113c6 100644
--- a/test/fixtures/en_locale.yml
+++ b/test/fixtures/en_locale.yml
@@ -1,9 +1,9 @@
 ---
   simple: "less is more"
-  whatever: "something :something"
+  whatever: "something %{something}"
   errors:
     i18n:
-      undefined_interpolation: "undefined key :key"
-      unknown_translation: "translation ':name' wasn't found"
+      undefined_interpolation: "undefined key %{key}"
+      unknown_translation: "translation '%{name}' wasn't found"
     syntax:
       oops: "something wasn't right"
diff --git a/test/liquid/i18n_test.rb b/test/liquid/i18n_test.rb
index 76e7fdf..e6e0d7a 100644
--- a/test/liquid/i18n_test.rb
+++ b/test/liquid/i18n_test.rb
@@ -34,12 +34,4 @@ class I18nTest < Test::Unit::TestCase
   def test_sets_default_path_to_en
     assert_equal I18n::DEFAULT_LOCALE, I18n.new.path
   end
-
-  def test_escaping_of_symbols
-    assert_equal "do replaced! not :gsub", @i18n.send(:interpolate, 
-                            'do :replace not \\:gsub',
-                            {
-                              :replace => "replaced!"
-                            })
-  end
 end