I would strongly recommend not changing your data to influence the event listing in Splunk. Instead, make your queries smarter or use custom event renderers to do what you need.
The INDEXED_VALUE=false disables Splunk's default behaviour of translating "field=value" into "look for 'value' token in lexicon, retrieve events, apply field extraction, filter for field=value" and instead makes Splunk do "retrieve all events, apply field extraction, filter for field=value". Apparently the token handling is confused by your newline, or your newline is confused by the token handling... the search filter itself works as you already discovered by piping to where .
To open a support case, go to http://www.splunk.com/ and hit Support & Services -> Support Portal. Make sure you log in using an account that is registered as a support contact under your support entitlement.
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