Characters U+201C and U+201D map to \quotedblleft and quotedblright,
respectively, which in turn are defined as
\chardef\quotedblleft="5C
\chardef\quotedblright=`\"
If used within @code, this fails, and you get a backslash and a
straight double quote, respectively. Since we are already using EC
fonts at various places, we could define these glyphs too (and some
others missing in CM) with
\def\quotedblleft{{\ecfont \char"10}}
\def\quotedblright{{\ecfont \char"11}}
or use those glyphs if the current font is typewriter.
Werner