The TriggerValue token can be confusing, since its value depends on the context in which it is used. See the above link for details.
But to clarify a few things about %TriggerValue%
- It is a KM Token, NOT a KM Variable.
- Tokens are much like classical programming functions, in that they return a value at run time based on the current environment.
- In this case, when using Folder trigger, it returns the FULL PATH of the file added to the folder.
Variables in KM work much like variables in any other programming language, with a few exceptions:
- The can contain ONLY strings (text)
- Their default scope is "Global", even persisting across Macros and macOS boots.
For details, see