have you got some references to back that up? The only wild lovebirds I have ever heard of in Australia, apart for escaped/released individuals, are some small and very short-lived colonies many decades ago (e.g. near Perth).
Perhaps I overstated things a little - I've not seen or heard of significant feral populations - but I've certainly seen enough of them in the wild in the wheat-belt region of South Australia. Most of these would likely be escapees - I have no evidence to support the existence of "colonies" ... I only assumed as much.
My father grew up on a farm in South Australia's Riverland area - near the SA/Vic border, where his nephew still farms wheat and cattle. I've heard my father and uncles talk about Lovebirds as a pest over many years - but I'm not sure what kind of numbers they are referring to and whether you could consider them "colonies" or just small groups of escapees.
Their farm is certainly far enough away from large population centres to indicate that perhaps it is more than just an occasional escapee causing problems.
I found this report from 1985 online - http://www.birdssa.asn.au/saopdfs/Volume 29/1985V29P192.pdf
... and a quick Google search found quite a few government documents identifying the species as a pest to be concerned about - but that may be more pre-emptive in response to their pest status in farming regions of their native countries and fears that if colonies were to establish themselves here, it could cause similar problems.
I will have to ask my father for his experience with wild Lovebirds and see if he or my uncles have any further anecdotal evidence about Lovebird colonies in South Australia.