Starting from emacs -Q:

1. Change the current directory to a remote machine (M-x <ret> cd
<ret> /user@host:/directory <ret>).
2. Type "C-x C-f d:/~".
3. Delete the last "~".

After step #3, the "d:/" part should be displayed in normal font[1],
but actually is displayed in gray font[2].

[1] See attached file "img-correct.png".
[2] See attached file "img-incorrect.png".


In GNU Emacs 24.0.50.1 (i386-mingw-nt5.1.2600)
 of 2011-06-07 on 3249CTO
Windowing system distributor `Microsoft Corp.', version 5.1.2600
configured using `configure --with-gcc (4.5) --no-opt --cflags
-Ic:/build/include'


-- 
Dani Moncayo