Even if he fishes your site, it should not be exposing the
source of your cfm templates. My guess is that he is harvesting the
output of your cfm templates. If this is the case, cfencrypt would
not help anyway.
I vaguely remember a thread years ago on this topic. The
consensus at that time was to, once the fishing was detected,
create some link traps that would point to dynamically generated
massive and useless pages with even more links to more garbage
pages. Just make sure you can detect the difference between this
dumb *** and a search engine crawler or your SE ranking will
plummet.