"[SOLVED] regex processing bug?"

Why would the following process output 'a/b/c' rather than just 'c'?

<?xml version="1.0" encoding="UTF-8" standalone="no"?>
<process version="5.2.008">
  <context>
    <input/>
    <output/>
    <macros/>
  </context>
  <operator activated="true" class="process" compatibility="5.2.008" expanded="true" name="Process">
    <process expanded="true" height="659" width="1042">
      <operator activated="true" class="set_macro" compatibility="5.2.008" expanded="true" height="76" name="Set Macro" width="90" x="45" y="75">
        <parameter key="macro" value="path"/>
        <parameter key="value" value="a/b/c"/>
      </operator>
      <operator activated="true" class="generate_macro" compatibility="5.2.008" expanded="true" height="76" name="Generate Macro" width="90" x="179" y="75">
        <list key="function_descriptions">
          <parameter key="path_ending" value="replaceAll(&quot;%{path}&quot;,&quot;^.*/(?=[^/]+^)&quot;,&quot;&quot;)"/>
        </list>
      </operator>
      <operator activated="true" class="print_to_console" compatibility="5.2.008" expanded="true" height="76" name="Print to Console" width="90" x="313" y="75">
        <parameter key="log_value" value="OUTPUT: %{path_ending}"/>
      </operator>
      <connect from_op="Set Macro" from_port="through 1" to_op="Generate Macro" to_port="through 1"/>
      <connect from_op="Generate Macro" from_port="through 1" to_op="Print to Console" to_port="through 1"/>
      <portSpacing port="source_input 1" spacing="0"/>
      <portSpacing port="sink_result 1" spacing="0"/>
    </process>
  </operator>
</process>

Am I missing something obvious or might this be a bug?