I just tested both methods with Android 2.1.
tel:5553334444;ext=123 finishes dialing 358123 instead of 123, because instead it converts ext to a number.
The correct way is to use a comma.
tel:5553334444,123
Tried this with our extension here, and it immediately connected me. First he dials a number, then stops, and then he hits extension 123.
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