The <value>
element is not in the same namespace as <cap:parameter>
:
<cap:parameter>
<valueName>VTEC</valueName>
<value>/O.CON.KMPX.FL.W.0012.000000T0000Z-110517T1800Z/</value>
</cap:parameter>
So you have to call children()
again.
Code (demo)
$feed = simplexml_load_file('http://alerts.weather.gov/cap/us.php?x=1');
foreach ($feed->entry as $entry){
printf(
"ID: %s\nVTEC: %s\n<hr>",
$entry->id,
$entry->children('cap', true)->parameter->children()->value
);
}