It's not supposed to, at least according to Common Lisp. I don't know what the exact rationale behind that is, but I suspect it has something to do with the fact that you can do the same thing with regular macros, and allowing this would be like crossing the function and symbol/variable namespaces.
Vladimir
2009/10/30 Daniel Gackle danielgackle@gmail.com:
(ps (symbol-macrolet ((fake real)) (fake 123)))
=>
"fake(123);"
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