I have English--aka British--dialogue in my MS. I've used the word luv a few times, as in "what'll you have, luv?". One of my English beta readers, a university student who is also an editor, took me to task for using luv instead of love, saying that he has only seen luv used in sloppy text speak, whereas, I'm sure I've seen it used in dialogue in other novels.

My question to the English writers here is if it's acceptable to use luv. Is the beta reader right about it being just a text appreviation that doesn't have a place in the more formal setting of a manuscript?