Is `module%test` broken in v0.18~preview.130.05+548 ?

`dune b example` fails 

```
File "example/example.ml", line 32, characters 0-25:
32 | module%test _ = Cnt (Int)
     ^^^^^^^^^^^^^^^^^^^^^^^^^
Error: value expected 
```

First discovered in https://discuss.ocaml.org/t/broken-ppx-inline-test/15956