Dialplan:
exten => _2X.,1,answer
exten => _2X.,2,AGI(specialcommand.agi|${EXTEN})
exten => _2X.,3,GotoIf($["${valid}" = "1"]?4:8)
exten => _2X.,4,NoOP,(${CMD}(${ACTION}))
exten => _2X.,4,${CMD}(${ACTION})
exten => _2X.,5,busy
exten => _2X.,6,hangup
exten => _2X.,7,NoOP('Not Found')
exten => _2X.,8,busy
exten => _2X.,8,hangup

agi script returns:
$CMD = Dial
$ACTION = SIP/kyle
$valid = 1

as seen in (from priority 4:
-- Executing NoOp("SIP/jim-08bc9d90", "(Dial(SIP/kyle))") in new stack


but It im getting: 

 No application '${CMD}' for extension (default, 222, 5)

Can this work without putting the commands in the AGI script?