>How do you look at a SQL statement that has macro substitution in it before it executes?

Try using the whole query as a macro.

Instead of:
Select * from table where @myquerycondition

try

myquery = "select * from my table where " + myquerycondition
@myquery

This way way you can evaluate my query after it has been built.

Using macro substitution inside a query is a bad idea anyway because it forces SQL to evaluate the macro for every row, and slows the query dramatically. HTH