I just upgraded to 4.5.3 and now have this same issue.  I am setup as public registration and recieved all the correct info that was sent to the admin upon a user registration.  Now I only get the email address....all other info is blank.

The post is interesting but I currently have the default

Date: [Date:Current]
First Name: [Profile:FirstName]
Last Name: [Profile:LastName]
Unit: [Profile:Unit]
Street: [Profile:Street]
City: [Profile:City]
Region: [Profile:Region]
Country: [Profile:Country]
Postal Code: [Profile:PostalCode]
Telephone: [Profile:Telephone]
Email: [User:Email]

Only the email address is ever filled in and 50% of the time use user isn't approved on a "verified' portal and the resulting email to the user isn't ever sent then.  This last part is a major bug and I have tried to report it in Gemini but Apparently I am only allowed to look at bugs not enter them at this time. If this is fixed in 4.5.4 any idea when that might pop out?

BTW tweaking the SNMP test message to include all of the tokens would make an easy way to test this and show the admins exactly what each token provided.