/EXEC didn't have any change. the NBU utility is seeing the logical because it changes the error based on what I assign, including the value of the logical in the error message but with a colon on the end, like so:
HOLMES> define/system/exec nbu$client_name holmes
%DCL-I-SUPERSEDE, previous value of NBU$CLIENT_NAME has been superseded
HOLMES> sho log nbu$client_name
"NBU$CLIENT_NAME" = "HOLMES" (LNM$SYSTEM_TABLE)
HOLMES> nbu show client
%NBU-E-GETHOSTBYNAME, gethostbyname failure for host "holmes:"
If I could just find where the usage of that logical is defined, that may show the correction.