What version of Calendar Creator are you using? I'm using 12.2, and your example doesn't cause the same problem for me. Where I've always had problems with the ampersand is with single letters, where CC will make the second letter lowercase. Example: M&M becomes M&m. I suspect this is because the ampersand is a control character used in Calendar Creator formulas, such as the birthday function.
I see what you mean, and have no explanation. I'll ask that they send this to the developers to review. I wouldn't expect any change soon. You may have to use a workaround as I always have with the 2-letter problem: substitute "and" for "&".
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