Yes, it's a good choice of characters. Specifically, the escape sequence is "\n~", with various options (visible by typing "\n~?"), and if the option is unknow

Yes, it's a good choice of characters. Specifically, the escape sequence is "\n~", with various options (visible by typing "\n~?"), and if the option is unknown it passes the "\n~{x}" as-is. The biggest false positive you'll see is "\n~v", when executing bins out of the home dir of a user starting with the letter 'v'.