Some text matching questions

[Vendettta]

It seems to handle the singular/plural correctly, but it replaces "pinkie" with "red ie", and most important, breaks links. For example, the link
http://www.codepink.com
becomes
http://www.codered .com

Both the space and the replaced text cause the link to be invalid. I tested it without the space (in the replace category) and it solved the space issue, but the problem still seems to be getting the filter to target page text but not tags.

Also, in the matching category, what is the purpose of the "or" expression within the parentheses since nothing follows it?