How to use ReplaceAll on an expression that contains a rule
Here are a couple possibilities:
testExpression /. Rule[Axes, {False, True}] -> Axes -> False
testExpression /. HoldPattern[Axes -> {False, True}] -> Axes -> False
{"stuff", Axes -> False}
{"stuff", Axes -> False}
I think this is just a matter of getting the parentheses right
testExpression /. (Axes -> {False, True}) -> (Axes -> False)
(* {"stuff", Axes -> False} *)