"I LOVED this" is a statement expressing strong positive feelings about something. It suggests that the person thoroughly enjoyed or appreciated whatever it is they are referring to.
The smiley face and "I think you will, too." are added to convey enthusiasm and to encourage others to also experience the same positive feelings. It's a way of recommending or sharing something enjoyable with others.
Someone could be referring to a book, movie, TV show, song, food, activity, or any other thing that they have a strong positive reaction to. It can vary from person to person.
The use of all capital letters and a smiley face conveys excitement and enthusiasm. It's a way of emphasizing the strong positive feelings the person has towards whatever they are talking about.
No, "I LOVED this" is generally used to express positive feelings. If someone wants to express negative feelings, they may use a different phrase or statement. However, it's possible for someone to use irony or sarcasm to say "I LOVED this" in a negative way.