Bump, interested in this response as well. Specifically looking to stay at Bellagio via FHR but would like to use Food & Beverage credit instead of Spa.
The property will not exchange/apply one for the other if that is what you are asking. Spa=Spa and F&B = F&B. A spa credit will not be applied to F&B.
BTW- Harvest restaurant at Bellagio is awesome, best chicken I have ever had in my life.