An experimental formencode.context module for dynamically-scoped variables had been added in FormEncode 0.3 and has not been touched since then. I don't see a good reason why it should be part of FormEncode. It is not documented (except in its module docstring). It is not used internally and I cannot find any other code using it with Google code search.

Am I missing anything? If we decide to keep it in FormEncode, we should at least modernize it a bit to support the "with" statement (as suggested in the docstring already).