[рони]

ART-DELI,
Вариант...

var data='[key:value][key:value][key:value][key:value][key:value]';
function parseTEXT(c) {
    for (var d = RegExp("\\[(.+?):(.+?)\\]", "g"), b = [], a;
    (a = d.exec(c)) != null;) b.push(a[1], a[2]);
    return b
};
alert(parseTEXT(data));

или так

var data='[key:value][key:value][key:value][key:value][key:value]';
function parseTEXT(c) {
  c =  c.replace(/:/g,',').split(/\[|\]\[|\]/)
  return c
};
alert(parseTEXT(data));