Can not get string override to work at all

drupal 7.14

I have watched the demo online. I don't know what I could be doing wrong.

1) installed module
2) enabled module
3) go here and define string replace: admin/config/regional/stringoverrides
original: REPLACEVAR new: Hello World
4) add REPLACEVAR to body of basic page

But nothing happens.

I see others complain of this as well but more information is still being requested. I've cleared my caches, slept on this a night and gave it another try. I really am at a loss for what I could be doing wrong still.