Oops my bad. I guess it only resolves the scm elements. Which is still a problem for my case but not as severe. Here is an example pom. I'm using Maven 2.2.
<project xmlns="http://maven.apache.org/POM/4.0.0" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
xsi:schemaLocation="http://maven.apache.org/POM/4.0.0 http://maven.apache.org/maven-v4_0_0.xsd">
<modelVersion>4.0.0</modelVersion>
<groupId>test</groupId>
<artifactId>test</artifactId>
<version>1.0-SNAPSHOT</version>
<packaging>pom</packaging>
<properties>
<jiraId>1234</jiraId>
<moduleId>test</moduleId>
</properties>
<issueManagement>
<system>JIRA</system>
<url>http://jira&component=${jiraId}</url>
</issueManagement>
<scm>
<connection>scm:svn:https://someFakeSCM/${moduleId}</connection>
<developerConnection>scm:svn:https://someFakeSCM/${moduleId}/trunk/</developerConnection>
<url>https://someFakeSCM/${moduleId}</url>
</scm>
<build>
<pluginManagement>
<plugins>
<plugin>
<groupId>org.apache.maven.plugins</groupId>
<artifactId>maven-release-plugin</artifactId>
<version>2.0-beta-9</version>
</plugin>
</plugins>
</pluginManagement>
</build>
</project>
which version of mvn are you using ?
Do you have a test case (pom.xml) ?