ink I just tested it on my forum. If the reply code is used and you are not logged in, you need to log in first, otherwise you will see «Log in to see this content».
Once you are logged in, if you are an administrator and the extension settings grant bypass permission to administrators — which is enabled by default — administrators will see the content immediately. Everyone else will need to reply first.
If that's not the case for you, there are two possible reasons — the extension is conflicting with another extension that also has a reply code or the bypass permission in the extension settings has been changed