I just pushed a commit to master that adds edebug specifications to
all macros defined by Org mode. With these specifications in place it
is now possible to step through macros with edebug like a normal
function call.

Information about instrumenting macro calls can be found here:

http://www.gnu.org/software/emacs/elisp/html_node/Instrumenting-Macro-Calls.html

Best,
  -- David
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