Tokens allow to access properties of environment objects such as current User, Page, Web Site, current module and Host. To access a property, use [object:property] notation, e.g. [User:DisplayName]. Modules may also provide an extra array of values when calling Token Replace, which can be accessed by using [Custom:1] etc. There is no option atm for admins to provide custom tokens for all TokenReplace use cases.

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Cheers from Germany,
Sebastian Leupold

   

Speed up your DNN Websites with TurboDNN

Rachel,

You can check out Mitch Sellers book for info on creating  custom tokens in a module.  You can also check out "MyTokens" on snowcovered.
(http://www.snowcovered.com/snowcovered2/Default.aspx?tabid=242&PackageID=19921)

But please note that I believe you would have to extend / create your own email module to use your custom tokens. 
The MyTokens module states
"Implicitly, MyTokens will patch the following standard DotNetNuke modules to achieve integration:

• Text/Html
• Links
• Announcements
• Reports
• Documents
• User Defined Table
• Form and List

Hope this helps,

Robert