diff --git a/docs/_utils/code-examples.js b/docs/_utils/code-examples.js
index 1e39eb12f..4efc227a8 100644
--- a/docs/_utils/code-examples.js
+++ b/docs/_utils/code-examples.js
@@ -80,9 +80,9 @@ const templates = {
     }
 
     let preview = '';
-    if (attributes.viewport === undefined) {
-      preview = `<div style="display:contents" slot="preview">${code.textContent}</div>`;
-    }
+    // if (attributes.viewport === undefined) {
+    preview = `<div style="display:contents" slot="preview">${code.textContent}</div>`;
+    // }
 
     return `${includes}
       <wa-code-demo ${attributesString}>
diff --git a/src/components/code-demo/code-demo.styles.ts b/src/components/code-demo/code-demo.styles.ts
index 4992791f8..ef332dcc0 100644
--- a/src/components/code-demo/code-demo.styles.ts
+++ b/src/components/code-demo/code-demo.styles.ts
@@ -61,6 +61,10 @@ export default css`
     }
   }
 
+  wa-viewport-demo + slot[name='preview'].has-slotted {
+    display: none;
+  }
+
   #source {
     border-block-end: inherit;
     overflow: hidden;
diff --git a/src/components/code-demo/code-demo.ts b/src/components/code-demo/code-demo.ts
index e8cef5d0a..88bca48f6 100644
--- a/src/components/code-demo/code-demo.ts
+++ b/src/components/code-demo/code-demo.ts
@@ -1,4 +1,5 @@
 import '../icon/icon.js';
+import { classMap } from 'lit/directives/class-map.js';
 import { customElement, property, query } from 'lit/decorators.js';
 import { getInnerHTML, HasSlotController } from '../../internal/slot.js';
 import { html } from 'lit';
@@ -78,11 +79,9 @@ export default class WaCodeDemo extends WebAwesomeElement {
   private readonly hasSlotController = new HasSlotController(this, 'preview');
 
   render() {
-    const code = this.getDemoHTML({ type: 'preview' });
-    // FIXME Ideally we don't want to render the contents of the code element anywhere if a custom preview is provided.
+    // NOTE We don't want to render the contents of the code element anywhere if a custom preview is provided.
     // That way, providing a custom preview can also be used to sanitize the code.
-    const customPreview = this.hasUpdated ? this.hasSlotController.test('preview') : true;
-
+    const code = this.getDemoHTML({ type: 'preview' });
     let viewportHTML: string | TemplateResult = '';
 
     if (this.viewport) {
@@ -94,11 +93,14 @@ export default class WaCodeDemo extends WebAwesomeElement {
       `;
     }
 
+    const customPreview = this.hasUpdated ? this.hasSlotController.test('preview') : true;
+
     return html`
       <div id="preview" part="preview">
         ${viewportHTML}
         <slot
           name="preview"
+          class=${classMap({ 'has-slotted': customPreview })}
           @slotchange=${this.handleSlotChange}
           .innerHTML=${customPreview || this.viewport ? '' : code}
         ></slot>
@@ -180,7 +182,7 @@ export default class WaCodeDemo extends WebAwesomeElement {
     let code;
     const customPreview = this.hasUpdated ? this.hasSlotController.test('preview') : true;
     if (options.type === 'preview' && customPreview && this.previewSlot) {
-      code = getInnerHTML(this.previewSlot);
+      code = getHTML(this.previewSlot.assignedNodes({ flatten: true }));
     } else {
       code = this.querySelector?.('code')?.textContent ?? this.textContent;
     }
@@ -197,10 +199,12 @@ export default class WaCodeDemo extends WebAwesomeElement {
   private handleSlotChange(e: Event) {
     const slot = e.target as HTMLSlotElement;
 
-    if (slot.name === 'preview') {
+    if (slot.name === 'preview' && !this.viewport) {
       const assignedNodes = slot.assignedNodes();
 
       for (const node of assignedNodes) {
+        // Unwrap templates
+        // FIXME this will mess up the order of the nodes if there are mixed templates & regular nodes
         if (node.nodeName === 'TEMPLATE') {
           const content = (node as HTMLTemplateElement).content;
           const clone = content.cloneNode(true);
@@ -360,3 +364,13 @@ function dedent(code: string) {
 
   return code.replace(new RegExp(`^${minIndent}`, 'gm'), '');
 }
+
+function getHTML(nodes: Iterable<Node>): string {
+  return getInnerHTML(nodes, node => {
+    if (node.nodeType === Node.ELEMENT_NODE && node.nodeName === 'TEMPLATE') {
+      const template = node as HTMLTemplateElement;
+      return template.innerHTML;
+    }
+    return undefined;
+  });
+}
diff --git a/src/internal/slot.ts b/src/internal/slot.ts
index cb895b5c5..a52ce5b40 100644
--- a/src/internal/slot.ts
+++ b/src/internal/slot.ts
@@ -61,14 +61,24 @@ export class HasSlotController implements ReactiveController {
 }
 
 /**
- * Given a slot, this function iterates over all of its assigned element and text nodes and returns the concatenated
- * HTML as a string. This is useful because we can't use slot.innerHTML as an alternative.
+ * Given a list of nodes, this function iterates over all of them and returns the concatenated
+ * HTML as a string. This is useful for getting the HTML that corresponds to a slot’s assigned nodes (since we can't use slot.innerHTML as an alternative).
+ * @param nodes - The list of nodes to iterate over.
+ * @param callback - A function that can be used to customize the HTML output for specific types of nodes. If the function returns undefined, the default HTML output will be used.
  */
-export function getInnerHTML(slot: HTMLSlotElement): string {
-  const nodes = slot.assignedNodes({ flatten: true });
+export function getInnerHTML(nodes: Iterable<Node>, callback?: (node: Node) => string | undefined): string {
   let html = '';
 
-  [...nodes].forEach(node => {
+  for (const node of nodes) {
+    if (callback) {
+      const customHTML = callback(node);
+
+      if (customHTML !== undefined) {
+        html += customHTML;
+        continue;
+      }
+    }
+
     if (node.nodeType === Node.ELEMENT_NODE) {
       html += (node as HTMLElement).outerHTML;
     }
@@ -76,7 +86,7 @@ export function getInnerHTML(slot: HTMLSlotElement): string {
     if (node.nodeType === Node.TEXT_NODE) {
       html += node.textContent;
     }
-  });
+  }
 
   return html;
 }