in the future, it helps to use the code icon under the # symbol. when you use quote, the code is wrapped and formatted badly without the indents, as if there's a hard line-ending in the middle of the notice.
How are you testing this? It's working fine in 7.55, but i can't imagine it using anything that wouldn't also work in 7.3-whatever. If you're trying to see how it reacts to things yourself types, be aware that TEXT does not see anything yourself types into channel. Also, the @ prefix means that it doesn't do anything if yourself is not an @op. The 'isreg' means it was only applying the rules to someone who is a 'regular' nick without op/voice. Also, if you have another TEXT event above it in that same scriptfile matching :*: then it intercepts everything instead.
You can add a few echoes to the status window containing $scriptline so you can see whether the event is being seen, and if so how far down it sees until it stops echoing them.