Looking at your screenshot, you’ve got the dreaded “formatted” quotes issue. The quotes (single or double) in formulas need to be plain text, not formatted text, so this:
IF(OR(Status = "Todo"), "blah")
instead of this:
IF(OR(Status = “Todo”), “blah”)
Edit the formula, retyping the quotes in the formula field and it should come good. It can also help to use a text editor to compose your formulas as they generally use plain text.
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