I just realized that -{}- works in external links, such as [http://www.-{zh-cn:weibo;zh-tw:twitter}-.com Microblogging] and is not a side effect: it has been deliberately used by a converter developer: https://zh.wikipedia.org/w/index.php?title=2008年西藏骚乱&diff=6478425&oldid=6478406 .
However this causes http://www.-{zh-cn:weibo;zh-tw:twitter}-.com to be registered as an external link in parser output, instead of either http://www.weibo.com or http://www.twitter.com , thus the links http://www.weibo.com and http://www.twitter.com seen by final users cannot be detected in code, which can be abused, for example, to bypass the spam blacklist ([http://-{tinyurl}-.com/foobar Foobar] just works: https://zh.wikipedia.org/w/index.php?title=Wikipedia:%E6%B2%99%E7%9B%92&diff=34043017&oldid=34042783&unhide=1 ), and pollutes externallinks table.
I believe such usage will also cause problems in Parsoid; cc'ing cscott. Not sure if this leads to any security issues but it seems unlikely.