The 'if' code is executed for me when I run your code (without the $object): 
Inside FindInHorizontalRegionDamn the element1 is  SETTINGS:Tick
Inside wait for image
Can't locate object method "WaitForImage" via package "SETTINGS:Flight
+" (perhaps you forgot to load "SETTINGS:Flight"?) at

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Reduce your code further, and post something that any of us can run to view your problem. For example: 
use warnings;
use strict;

my $regex1 = '(.*?)\:(.*?)';
my $element1 = 'SETTINGS:Flight';
print "Damn the element1 is  $element1 \n";

if ( $element1 =~ m/$regex1/g ) {
    print "Inside wait for image \n";
}
else {
    print "Inside wait for Text \n";
}

__END__

Damn the element1 is  SETTINGS:Flight
Inside wait for image

[download]

See also Basic debugging checklist

In reply to Re: Regex not working by toolic
in thread Regex not working by Perllace

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