Green’s Dictionary of Slang

in a positive or pleasing situation.

1979		E. Torres After Hours 161: Walberto protested with his hands, but his puss said, ‘Mirror, mirror on the wall.’ Luv-in it.
1993		Eble Campus Sl. Apr. 4: love it – be lucky and happy. ‘No finals in three classes – you’re loving it.’.
2003		Guardian 18 Jan. 🌐 They both rock out to the stomping drums and teenage mentality, girls again and loving it.