XML : Can I use Expat to parse XML namespace prefixes in values?

I have an XML which can be reduced to the following.

  <TEST:Main xmlns:TEST="http://test.com">      <TEST:Value>TEST:Banana</TEST:Value>  </TEST:Main>    

I believe that namespace prefixes only apply to types names and attributes names. So TEST:Main and TEST:Value are equivalent to http://test.com:Main and http://test.com:Value. But the value TEST:Banana is not equivalent to http://test.com:Banana. Am I right?

In any case the XML supplier (a third-party) did mean http://test.com:Banana. Is there any way to use Expat to process this value? I already use XML_ParserCreateNS(NULL, ':') to create a parser that processes types names and attributes names.