Tokens Used By - beware!
So, we can see now if and where a token is in use. That’s great!

But looking at it a little more, I was wondering why so many of my Program Tokens were not in use. And in fact: They are in use, but obviously in a way that Marketo doesn’t recognize. I’d tentatively say this:
“Used by” is only recorded when the token is in the body of an email or in a rich text area on a landing page. It is not recorded if the token is in a Smart Campaign Flow Step, in the meta tags on a landing page or in the local variables of an email module.
That is probably not the extensive list, but be careful when deleting local tokens that are indicated to not be in use. It might be misleading.