If you have a fixed format cobol file, having any text in columns 1-6 will cause the highlighter to ignore a comment on column 7.
```COBOL 123456*DO-SOMETHING. ```
Would not be highlighted as a comment, for example. Whereas,
```COBOL *DO-SOMETHING. ```
Would.
I assume there's an assumption that if anything is in columns 1-6, then it's not a fixed format.
The syntax highlighting is provided by the Scintilla editing widget Geany uses which is a separate project [here](www.scintilla.org). You would be best to post a bug/feature request there so you can discuss it directly with the Cobol lexer maintainer.
Looks like it's already been noted in scintilla: https://sourceforge.net/p/scintilla/bugs/1893/
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