I had a tool problem while reading obfuscated Lisp: I wanted automatic refactoring. In particular I wanted to be able to α-rename the obnoxious variables to something that didn't look so much like brackets. But I had to do it by hand, because there are no good refactoring tools for Lisp. This is partly because Lisp culture values tools for expression more than tools for maintenance, but partly because automating most refactorings is hard in the presence of macros.
Most Lisps have macros in their purest form: they're arbitrary functions that transform new forms to old ones. That means there's no general way to walk the arguments, because neither the function nor the expansion will tell you what parts of the call are forms, let alone what environment they belong in. There is no way to be sure the macro doesn't implement a different language, which makes analysis nearly impossible.
You can almost do it by observation: if part of a macro call appears as a form in the expansion, you can treat it as a form in the call — and you even know its environment. (Note that this requires
eq, because you want to detect that it's the same value, not another identical one.) Unfortunately this fails when the same form appears more than once in the original — and this is normal for symbols, so this technique doesn't get you very far. Even if the representation of code were different, so variable references appeared as
(ref x) rather than being abbreviated to
x, it would still break when a form appears more than once in the same tree. And in the presence of macros, partial sharing is actually rather common, because multiple calls to the same macro often share part of their expansions. So reliably walking macro calls requires having more information about a macro than just how to expand it.
This is an advantage of more restrictive macro systems: they're easier to analyze. In a strict template-filling system like
syntax-rules, you can always determine the role of a macro argument. DrScheme takes advantage of this for its fancy (but not very useful IME) syntax-highlighting. It doesn't work for procedural macros (Update: yes it does; see comments)
but it could, if there were a way for macro definitions to supply the analysis along with the expander. Of course it would still be necessary to support unanalyzable mystery macros, because some macros are too hard to analyze, and because many authors won't bother.
I don't think procedural macros are a bad feature — on the contrary, I think they are the best and purest form of one of the four most important abstraction methods in any language (the other three are variables, functions, and user-defined datatypes). But they do have a cost. And I think the cost is mostly in what other tools they interfere with, not in any difficulty humans have with them.