[calorie]

If you are going to use a replacement variable, try the following:

/* do one of the following */

$pagetext = process_replacement_vars($pagetext); // and then you echo

/* or */

eval('print_output($pagetext);'); // does process_replacement_vars and echoes for you

/* or */

eval('print_output("' . fetch_template('your_template') . '");'); // where your_template has $pagetext in it

Otherwise be rid of the replacement variable and do something like:

$pagetext = str_replace('images/smilies/', 'http://www.domain.com/forum/images/smilies/', $pagetext); // and then you echo