$re = '/(?<=<variable.*>.*)loves(?!(?<=\[[^][]*)[^][]*])(?=.*</variable)/m';
$str = '<variable class="loves">[loves] My dog loves dog food </variable>
<variable class="loves">[loves] My dog hates dog food </variable>';
$subst = "hates";
$result = preg_replace($re, $subst, $str);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php