Solution to problem at https://gist.github.com/hyperking/6640960

hyperking-prob-sol-1

{% if article.productvariations %}
    {% for category_groups in article.productvariations.split('|') %}
        {% for category in category_groups.split('=') %}
            {% if loop.first %}
                <h1>{{ category }}</h1>
            {% else %}
                <ul>
                    {% for list in category.split(',') %}
                        {% set splitted = list.split(':') %}
                        <li>{{ splitted[0] }} {{ splitted[1] }}
                    {% endfor %}
                </ul>
            {% endif %}
        {% endfor %}
    {% endfor %}
{% endif %}

output http://grab.by/qtae