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A ~VelociMacro is a user-defined Velocity directive that typically generates some XML or other markup within a Roller blog. Roller includes a collection of ~VelociMacros for displaying a variety of weblog components such as calendar, blogroll, navigation bars, etc.
For a complete guide to Roller template customization, models and macros see the Roller Template Guide. You can find the latest copy on the User Guide page.