Using latest version of umbraco, 4.0.2.1.

Windows Vista

IIS 7

Setup.  Have a "textbox multiline" called pagerXml, with the following xml in it:

<?xml version="1.0" encoding="ISO-8859-1"?>
<pages>
  <page>
    <idAndClass>SlideHoliday</idAndClass>
    <img_location>/gfx/slideheaders/holidaycoll.png</img_location>
    <img_alt>Image alt</img_alt>
    <text>
    Blah blha blh blah blah blahblah blah blah
    <br />
    <br />
    <a href="link.html">link</a>
    </text>
   </page>
</pages>

Have a XSLT file  (I'm guessing that the issue is with the line i bolded):

<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE xsl:stylesheet [ <!ENTITY nbsp "&#x00A0;"> ]>
<xsl:stylesheet
        version="1.0"
        xmlns:xsl="http://www.w3.org/1999/XSL/Transform"
        xmlns:msxml="urn:schemas-microsoft-com:xslt"
        xmlns:umbraco.library="urn:umbraco.library" xmlns:Exslt.ExsltCommon="urn:Exslt.ExsltCommon" xmlns:Exslt.ExsltDatesAndTimes="urn:Exslt.ExsltDatesAndTimes" xmlns:Exslt.ExsltMath="urn:Exslt.ExsltMath" xmlns:Exslt.ExsltRegularExpressions="urn:Exslt.ExsltRegularExpressions" xmlns:Exslt.ExsltStrings="urn:Exslt.ExsltStrings" xmlns:Exslt.ExsltSets="urn:Exslt.ExsltSets"
        exclude-result-prefixes="msxml umbraco.library Exslt.ExsltCommon Exslt.ExsltDatesAndTimes Exslt.ExsltMath Exslt.ExsltRegularExpressions Exslt.ExsltStrings Exslt.ExsltSets ">

<xsl:output method="xml" omit-xml-declaration="yes"/>
<xsl:param name="currentPage"/>

<xsl:output method="xml"/>

<xsl:template match="/">
    <xsl:variable name="pagesData" select="$currentPage/data [@alias = 'pagerXml']/pages/page" />
    <xsl:if test="count($pagesData) &lt; 1">
        BAD!!
    </xsl:if>
    <xsl:for-each select="$pagesData">
        <div class="panel">
            <xsl:attribute name="id">
                <xsl:value-of select="idAndClass"/>
            </xsl:attribute>
            <div class="wrapper">
                <div>
                    <xsl:attribute name="class">
                        <xsl:value-of select="idAndClass"/>
                    </xsl:attribute>
                    <div class="Slidetext">
                        <img width="235" height="83" class="slideheading">
                        <xsl:attribute name="src">
                            <xsl:value-of select="img_location"/>
                        </xsl:attribute>
                        <xsl:attribute name="alt">
                            <xsl:value-of select="img_alt"/>
                        </xsl:attribute>
                        </img>
                        <p class="slidep">
                            <xsl:value-of select="text"/>
                        </p>
                    </div>
                </div>
            </div>
        </div>
    </xsl:for-each>
</xsl:template>
</xsl:stylesheet>

Whenever i run this, it always outputs "BAD!!"  Since it doesnt find the nodes.  If i just use the XML and the XSLT outside of umbraco it works.  So i think my XSLT is working properly....

What am I doing wrong?!