The colon (:) character

With CMPR2, the colon character was a non-COBOL character that COPY ... REPLACING allowed as part of its operands. This character is a legal COBOL separator under Enterprise COBOL.
COPY  A  REPLACING  == A ==    BY  == X ==
                    == B ==    BY  == Y ==
                    == A:B ==  BY  == Z ==.
If member A contains:
MOVE  A:B  TO  ID2.
These are the differences between CMPR2 and Enterprise COBOL after COPY ... REPLACING has been performed.
      CMPR2                         NOCMPR2

MOVE  Z  TO  ID2.             MOVE  X:Y  TO  ID2.

Because ":" is a separator under Enterprise COBOL, "A:B" is broken up into three separate tokens: "A" ":" and "B." The replacements for A and B are made first.