You are correct, according to the examples in the Macro manual, this should be possible.
There are actually several examples in the Manual illustrating this in various ways.
Also, the Macro Internal Operation Manual describes:
> LOCATION ASSIGNMENTS
> The location assignment character </> enters at b. If preceded by a word terminator, it denotes the beginning of a comment, and control passes to itc to ignore characters until the next tab or carriage return. Otherwise, evl is called and the new location is set up.
So, according to this, if the slash was not preceded by a word terminator (see below), the expression before this should be evaluated and the result used as the new location.
If, on the other hand, it was preceded by a word terminator, i.e., is at the beginning of a logical input line, it's a comment.
Consequently, the slash is found itself in the list of word terminators:
> Expressions are usually delimited by tab, cr, slash, comma, or equals.
BTW, valid syllable separators, which are conjunction of factors in an expressions, are.
> an expression is one or more syllables separated by the characters plus, minus, or space.
So much, so clear.
However, this is not how it behaves. Clearly, we can separate a comment from any expression / instruction just by spaces (and, actually, as demonstrated in your example, even by no separation, at all.) While, according to the above, in this case, the instruction code should be used as the new location, since space is a syllable terminator and not a word terminator.
This actual behavior is also supported by section on comments:
> Comments - A string of characters which commences with a slash is a comment. The string is ended by a tab or cr.
Comments are ignored by MACRO and may be used to label selections of a program, annotate important instructions, and give the reader of the typescript information about the program.
Notably, there is no requirement for the slash to be proceeded by any special / terminating character to start a comment.
From which follows that a location expression must be terminated (either by a CR or TAB), in order to not be parsed as some literal value expression followed by a comment.
Obviously, there is a contradiction.
My guess is that the behavior described in the context of location setting may have been the original one, as drafted, and later revised, but this was not fully reflected in the manual.
And I can kind of see, why this should have been revised, since, if the slash did actually behave as described above and we had to put any comments exactly on the start of a new line and nowhere else, this shouldn't be only quite awkward, but also extremely error-prone, as in accidentally setting a new location, if any character happened to precede the slash.
The other version is that the slash fails to act as a word terminator (as described). (Still, we would have to put any comments at the very beginning of a line. Which makes me presume that the demonstrated behavior is intentional. Also, this double-identity of the slash is awkward per-se and may be somehow owed to the previous TX-0 incarnation.)
Anyways, for the sake of having functional comments, terminate the location expression.