When you generate the "Password Reset Notification" email from the system, the URL that's being created from PASSWORD_RESET_URL is malformed. I had this experience in both a trial version of Liferay EE and in the CE version. What you receive is:
When this gets to the end user, clicking the link results in an error. Notice that the content in the display for the A tag is correct, it's only a problem in the href itself.