--- a/spec/latest/json-ld-api/index.html	Mon Apr 09 13:19:33 2012 -0700
+++ b/spec/latest/json-ld-api/index.html	Mon Apr 09 13:31:28 2012 -0700
@@ -1026,7 +1026,7 @@
     <ol class="algorithm">
       <li>If the <tref>active context</tref> contains a <tref>term</tref> mapping for the value using
         a case-sensitive comparison, use the mapped value as an IRI.</li>
-      <li>Otherwise, split the value into a <em>prefix</em> and <em>suffix</em> from the first occurrence of ':'.</li>
+      <li>Otherwise, split the value into a <em>prefix</em> and <em>suffix</em> from the first occurrence of ':' not followed by '//'.</li>
       <li>If the prefix is a '_' (underscore), the value represents a named <tref>blank node</tref>.</li>
       <li>If the <tref>active context</tref> contains a <tref>term</tref> mapping for <em>prefix</em> using
         a case-sensitive comparison, generate an <tref>IRI</tref>