This is the regex I use for general IP validation:
(([0-9](?!\d)|[1-9][0-9](?!\d)|1[0-9]{2}(?!\d)|2[0-4][0-9](?!\d)|25[0-5](?!\d))[.]?){4}
Breakdown:
1.`[0-9](?!\d)` -> Any Number 0 through 9 (The `(?!\d)` makes sure it only grabs stand alone digits)
2.`|[1-9][0-9](?!\d)` -> Or any number 10-99 (The `(?!\d)` makes sure it only grabs double digit entries)
3.`|1[0-9]{2}` -> Or any number 100-199
4.`|2[0-4][0-9]` -> Or any number 200-249
5.`|25[0-5]` -> Or any number 250-255
6.`[.]?` -> With or without a `.`
7.`{4}` -> Lines 1-6 exactly 4 times
This hasn't failed my yet for IP address validation.
For your specific case, this should do it:
(169\.254\.)((([0-9](?!\d)|[1-9][0-9](?!\d)|1[0-9]{2}|2[0-4][0-9]|25[0-4])[.])(([0-9](?!\d)|[1-9][0-9](?!\d)|1[0-9]{2}|2[0-4][0-9]|25[0-5])))
This is very long because I couldn't figure out how to get 169.254.(0-254).255 to check without getting 169.254.255.1 to fail
Edit: Fixed due to comments