I believe IBMis usually quite commited to being inline with published and accepted standards. However, this is a standard with 2008 in it's name, and AIX 5.3 is from 2004, and the TL/SP level I am compiling on, for backwards compatibility is dated 2007 - so hard to complain that it is not up to a 2008 standard - although I expect the program you sent will compile and execute.
It is the installp installer that has issues because it uses the [] characters for special purposes.
Maybe I can find a way/modification to the mkinstallp program so that installp will accept the input.