OK, two immediate problems.
#1
RewriteRule ^/ etc.
will always fail, unless you've got a very forgiving server. In mod_rewrite, that first slash is treated as part of your domain name, so what you've got-- potentially-- is
www.example.com//content/ etc.
([^/]+)/([^/]+)\.html$
Ooh, points for getting this right and not throwing in any .* in the middle ;) Note that since you're not using the last part of the address, you don't need to capture it.
#2
http://www.example.com/content/FluffyKitty/page1.html
to
http://www.example.com/content/fluffykitty/
There's a custom taxonomy for "content" that handles "fluffykitty".
I hope "handles" means "deals with case", because if not, you're in trouble. The flag [NC] will
find requests regardless of case, but it won't
change case. Apache's dialect of RegEx doesn't include case-changing.
Is "fluffykitty/" a directory, or is there a further rewrite that makes it back into a page name?
In what way does the Rule fail? No effect at all, wrong effect, unpredictable effect, crashes server? That's assuming for the sake of discussion you haven't overlooked anything embarrassing like RewriteEngine On.