When you do not want to begin a Relevance Substitution, you need to escape the open curly brackets via {{. When you don’t want to end a relevance substitution, you need to escape the close curly brackets via }}. Try
continue if {exists match (regex "^([A-Za-z0-9]{4}}-){5}}[A-Za-z0-9]{4}}$") of (parameter "key" of action as string)}```
– Here, you are trying to prevent a Relevance Substitution; you want ActionScript to treat the { as “not the beginning of Relevance”
– Here, you are inside a Relevance substitution; and you want to treat } as “not the end of Relevance”
How we actually accomplish it is open for explanation. I’m pretty positive that using “}}” has worked for me but I don’t have a console at home to try. I just want to point out that we are talking about two different use cases. It looks like %7B and %7D may be a good method in any case.