The formula editor reports all parser and evaluation errors within the value returned. This is similar to Microsoft Excel displaying #VALUE! in a cell when there is an error in the formula. Iron Speed Designer similarly displays an ERROR: <error message> instead of the calculated value in the event of an error to make sure it is easy to identify and fix any parsing or evaluation errors. No exceptions are thrown in the event of an error of a formula.
Variables Available in Formulas
Using Table and Record Control Functions in Formulas
Using .NET Framework Functions in Formulas
Using Custom Functions in Formulas