Yep.
Do it the way I showed you in that other thread. Basically the way to get the CF compiler to not compile CFML instructions which are actually part of a string, rather than code, is to "escape" the tags.
Relevant snippet from other thread:
<cfsavecontent variable="sMenus">
<cfset sCfO = "<" & "cf">
<cfset sCfC = "</" & "cf">
<cfoutput>
#sCfO#menu type="horizontal">
<cfquery name="qMenus" dbType="query">
[snip]
</cfquery>
<cfloop query="qMenus">
#sCfO#menuitem display="#label#" href="#CGI.script_name#?id=#id#" name="sub_#parentId#_#id#">
#getSubmenus(menuData=qMenuData, parentId=id)#
#sCfC#menuitem>
</cfloop>
#sCfC#menu>
Where sCfO and sCfC ("CF open" and "CF close") are variables holding "<cf" and "</cf" respectively. So when creating your string, you have "#sCfO#menu" which will contain "<cfmenu".
Make sense?
--
Adam