Alright... I have come up with a script that works like a charm and takes way less time and resources if you have access to the SQL Management Studio... I do not offer any guarantee here, but this from my experience works better than the few other solutions I found online...
You may have to alter this slightly for your use, but this did the trick for me.
/*--------------------------*/
-- Find and Replace
UPDATE dbo.DNN_HtmlText
SET [Content] = CAST(REPLACE(CAST([Content] as NVarchar(MAX)),'stringtobereplaced','newstringtobeinserted') AS NText)
where [Content] like '%stringtobereplaced%'
-- Verify New Row Counts
select count(*) from dbo.DNN_HtmlText where [Content] like '%stringtobereplaced%' --should be 0
select count(*) from dbo.DNN_HtmlText where [Content] like '%newstringtobeinserted%' --should be the number of replaced items
--If rowcount is correct, commit transaction. If rowcount is off, rollback transaction
--*******************
--COMMIT TRANSACTION
--ROLLBACK TRANSACTION
--*******************
/*--------------------------*/
Just wanted to share this.