This is another one-liner ... from shell point of view (you can remove \
and newline to make it one line).
Make sure \ is always last character of the line and no space after that.
gawk '{\
  for(i=1;i<NF;i++)\
  {\
     if(match($i,/\]\.\[/)>0)\
     {\
         for(k=1;k<length($i);k++)\
         {\
            c=substr($i,k,1);\
            if(c!="[" && c!="]")\
            printf("%s",c);\
         }\
         printf(" ");\
     }\
  }\
  printf("\n");\
}' example.txt
Anyway, it would be useful to put the gawk-code in between ' and '
into a file (file.awk, in file.awk remove all \) and then call, gawk like so, meaning test.awk starts with { and ends with }. It might not be an elegant solution, but you can add a lot more to this, like many variables, a whole program, subroutines, ...
gawk -f test.awk example.txt
Output:
fox.jumps 
the.quick fox.jumps