Currently BBCode (amongst other things) is parsed within code/pre tags when a post is submitted. This can be very damaging on programming forums where the integrity of posted code is critical. Additionally if a Rebuild Posts background task is ever initiated (I believe v4.0.5 will initiate this again) then existing code in posts will also be re-parsed causing emoticons to be parsed within code/pre tags. Again, this breaks code integrity.
These have both been bugged on the tracker, but in the meantime this plugin will prevent any manipulation of the text within code/pre tags.
Note: Nothing is parsed within code/pre tags - not even the profanity filter.