Backout ad09ce1d393c and replace ''' with """ to make some highlighting happy. I have tried Debian's default emacs and the current CVS version. Default emacs doesn't have highlighting enabled (and being emacs-illiterate I don't know how to enable it) and the CVS emacs' Python highlighting has no problems with ' characters here.

#!/bin/sh

mkdir t
cd t
hg init
echo "invalid" > .hg/hgrc
hg status 2>&1 |sed -e "s:/.*\(/t/.*\):...\1:"