diff --git a/jps/model-serialization/src/com/intellij/openapi/application/PathMacroFilter.java b/jps/model-serialization/src/com/intellij/openapi/application/PathMacroFilter.java
index e5f4ca26e492..f6beb95d4239 100644
--- a/jps/model-serialization/src/com/intellij/openapi/application/PathMacroFilter.java
+++ b/jps/model-serialization/src/com/intellij/openapi/application/PathMacroFilter.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2000-2012 JetBrains s.r.o.
+ * Copyright 2000-2016 JetBrains s.r.o.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -16,7 +16,9 @@
 package com.intellij.openapi.application;
 
 import org.jdom.Attribute;
+import org.jdom.Element;
 import org.jdom.Text;
+import org.jetbrains.annotations.NotNull;
 
 /**
  * Allows to disable expansion of path macros in the values of certain properties.
@@ -24,6 +26,9 @@ import org.jdom.Text;
  * @author yole
  */
 public abstract class PathMacroFilter {
+  public boolean skipPathMacros(@NotNull Element element) {
+    return false;
+  }
 
   public boolean skipPathMacros(Text element) {
     return false;
diff --git a/jps/model-serialization/src/com/intellij/openapi/components/PathMacroMap.java b/jps/model-serialization/src/com/intellij/openapi/components/PathMacroMap.java
index 781d0f9ebdaf..ba6b779a3766 100644
--- a/jps/model-serialization/src/com/intellij/openapi/components/PathMacroMap.java
+++ b/jps/model-serialization/src/com/intellij/openapi/components/PathMacroMap.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2000-2015 JetBrains s.r.o.
+ * Copyright 2000-2016 JetBrains s.r.o.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -36,6 +36,10 @@ public abstract class PathMacroMap {
   }
 
   public final void substitute(@NotNull Element e, boolean caseSensitive, boolean recursively, @Nullable PathMacroFilter filter) {
+    if (filter != null && filter.skipPathMacros(e)) {
+      return;
+    }
+
     for (Content child : e.getContent()) {
       if (child instanceof Element) {
         substitute((Element)child, caseSensitive, recursively, filter);
diff --git a/platform/lang-impl/src/com/intellij/find/impl/FindInProjectSettingsBase.java b/platform/lang-impl/src/com/intellij/find/impl/FindInProjectSettingsBase.java
index 428b79f71341..b1120fc9d2fd 100644
--- a/platform/lang-impl/src/com/intellij/find/impl/FindInProjectSettingsBase.java
+++ b/platform/lang-impl/src/com/intellij/find/impl/FindInProjectSettingsBase.java
@@ -15,12 +15,15 @@
  */
 package com.intellij.find.impl;
 
+import com.intellij.openapi.application.PathMacroFilter;
 import com.intellij.openapi.components.PersistentStateComponent;
+import com.intellij.openapi.components.impl.stores.FileStorageCoreUtil;
 import com.intellij.util.ArrayUtil;
 import com.intellij.util.xmlb.XmlSerializerUtil;
 import com.intellij.util.xmlb.annotations.AbstractCollection;
 import com.intellij.util.xmlb.annotations.Property;
 import com.intellij.util.xmlb.annotations.Tag;
+import org.jdom.Element;
 import org.jetbrains.annotations.NotNull;
 
 import java.util.ArrayList;
@@ -115,4 +118,17 @@ public class FindInProjectSettingsBase implements PersistentStateComponent<FindI
       list.remove(0);
     }
   }
+
+  static class FindInProjectPathMacroFilter extends PathMacroFilter {
+    @Override
+    public boolean skipPathMacros(@NotNull Element element) {
+      String tag = element.getName();
+      // dirStrings must be replaced, so, we must not skip it
+      if (tag.equals("findStrings") || tag.equals("replaceStrings")) {
+        String component = FileStorageCoreUtil.findComponentName(element);
+        return component != null && (component.equals("FindSettings") || component.equals("FindInProjectRecents"));
+      }
+      return false;
+    }
+  }
 }
diff --git a/platform/platform-resources/src/META-INF/LangExtensions.xml b/platform/platform-resources/src/META-INF/LangExtensions.xml
index 0fba69af200a..c56ac4e41f85 100644
--- a/platform/platform-resources/src/META-INF/LangExtensions.xml
+++ b/platform/platform-resources/src/META-INF/LangExtensions.xml
@@ -109,6 +109,7 @@
                         serviceImplementation="com.intellij.find.impl.FindSettingsImpl"/>
     <applicationService serviceImplementation="com.intellij.find.impl.FindSettingsImpl$FindRecents"/>
     <projectService serviceInterface="com.intellij.find.FindInProjectSettings" serviceImplementation="com.intellij.find.impl.FindInProjectRecents"/>
+    <pathMacroFilter implementation="com.intellij.find.impl.FindInProjectSettingsBase$FindInProjectPathMacroFilter"/>
 
     <applicationService serviceImplementation="com.intellij.codeInsight.CodeInsightSettings"/>
 
diff --git a/platform/projectModel-impl/src/com/intellij/openapi/components/CompositePathMacroFilter.java b/platform/projectModel-impl/src/com/intellij/openapi/components/CompositePathMacroFilter.java
index ae134d493fb2..93bd2a16f317 100644
--- a/platform/projectModel-impl/src/com/intellij/openapi/components/CompositePathMacroFilter.java
+++ b/platform/projectModel-impl/src/com/intellij/openapi/components/CompositePathMacroFilter.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2000-2012 JetBrains s.r.o.
+ * Copyright 2000-2016 JetBrains s.r.o.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -17,7 +17,9 @@ package com.intellij.openapi.components;
 
 import com.intellij.openapi.application.PathMacroFilter;
 import org.jdom.Attribute;
+import org.jdom.Element;
 import org.jdom.Text;
+import org.jetbrains.annotations.NotNull;
 
 /**
  * @author yole
@@ -29,6 +31,16 @@ public class CompositePathMacroFilter extends PathMacroFilter {
     myFilters = filters;
   }
 
+  @Override
+  public boolean skipPathMacros(@NotNull Element element) {
+    for (PathMacroFilter filter : myFilters) {
+      if (filter.skipPathMacros(element)) {
+        return true;
+      }
+    }
+    return false;
+  }
+
   @Override
   public boolean skipPathMacros(Text element) {
     for (PathMacroFilter filter : myFilters) {
diff --git a/platform/projectModel-impl/src/com/intellij/openapi/components/impl/stores/FileStorageCoreUtil.java b/platform/projectModel-impl/src/com/intellij/openapi/components/impl/stores/FileStorageCoreUtil.java
index 1be7ff22a76e..7ba9ad1d35e4 100644
--- a/platform/projectModel-impl/src/com/intellij/openapi/components/impl/stores/FileStorageCoreUtil.java
+++ b/platform/projectModel-impl/src/com/intellij/openapi/components/impl/stores/FileStorageCoreUtil.java
@@ -16,17 +16,21 @@
 package com.intellij.openapi.components.impl.stores;
 
 import com.intellij.application.options.PathMacrosCollector;
+import com.intellij.openapi.application.PathMacros;
+import com.intellij.openapi.components.CompositePathMacroFilter;
 import com.intellij.openapi.components.PathMacroSubstitutor;
 import com.intellij.openapi.components.TrackingPathMacroSubstitutor;
 import com.intellij.openapi.diagnostic.Logger;
 import com.intellij.openapi.util.JDOMUtil;
 import com.intellij.openapi.util.text.StringUtil;
+import com.intellij.util.SmartList;
 import com.intellij.util.containers.StringInterner;
 import org.jdom.Element;
+import org.jdom.Parent;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
 
-import java.util.Collections;
+import java.util.Iterator;
 import java.util.List;
 import java.util.TreeMap;
 
@@ -47,16 +51,23 @@ public class FileStorageCoreUtil {
     List<Element> children = rootElement.getChildren(COMPONENT);
     if (children.isEmpty() && rootElement.getName().equals(COMPONENT) && rootElement.getAttributeValue(NAME) != null) {
       // exclusive component data
-      children = Collections.singletonList(rootElement);
+      // singleton must be not used here - later we modify list
+      children = new SmartList<>(rootElement);
     }
 
+    CompositePathMacroFilter filter = null;
+
     TreeMap<String, Element> map = new TreeMap<>();
-    for (Element element : children) {
+    for (Iterator<Element> iterator = children.iterator(); iterator.hasNext(); ) {
+      Element element = iterator.next();
       String name = getComponentNameIfValid(element);
       if (name == null || !(element.getAttributes().size() > 1 || !element.getChildren().isEmpty())) {
         continue;
       }
 
+      // so, PathMacroFilter can easily find component name (null parent)
+      iterator.remove();
+
       if (interner != null) {
         JDOMUtil.internElement(element, interner);
       }
@@ -64,7 +75,12 @@ public class FileStorageCoreUtil {
       map.put(name, element);
 
       if (pathMacroSubstitutor instanceof TrackingPathMacroSubstitutor) {
-        ((TrackingPathMacroSubstitutor)pathMacroSubstitutor).addUnknownMacros(name, PathMacrosCollector.getMacroNames(element));
+        if (filter == null) {
+          filter = new CompositePathMacroFilter(PathMacrosCollector.MACRO_FILTER_EXTENSION_POINT_NAME.getExtensions());
+        }
+
+        ((TrackingPathMacroSubstitutor)pathMacroSubstitutor)
+          .addUnknownMacros(name, PathMacrosCollector.getMacroNames(element, filter, PathMacros.getInstance()));
       }
 
       // remove only after "getMacroNames" - some PathMacroFilter requires element name attribute
@@ -82,4 +98,19 @@ public class FileStorageCoreUtil {
     }
     return name;
   }
+
+  @Nullable
+  public static String findComponentName(@NotNull Element element) {
+    Element componentElement = element;
+    while (true) {
+      Parent parent = componentElement.getParent();
+      if (parent == null || !(parent instanceof Element)) {
+        break;
+      }
+
+      componentElement = (Element)parent;
+    }
+
+    return StringUtil.nullize(componentElement.getAttributeValue(NAME));
+  }
 }