No, a pimple on your nose does not mean love, although folklore would tell you that it does. In reality, pimples can tell you a lot about your health.
A pimple on the end of your nose can indicate an issue with the cardiovascular system, and may tell you that you need to increase your intake of protein and vitamin B. Put simply, the skin of your nose is having issues due to poor nutrition and blood circulation.
Pimples on the bridge of the nose are slightly different. They may indicate an issue with the liver, usually stemming from a diet rich in dairy products. Lowering dairy intake should resolve this problem.
Of course, pimples can appear for a variety of reasons, so these are simply some indications of underlying causes. Still, it's pretty fun to think that a pimple could mean love. At least it would be worth having then!
Here's a pretty cool video looking at whether stress causes pimples:
