Tim
 

I found a way to get it to do what I needed it to.
Kind of did an end-around on it.
I used the formula in another cell, then did a cell
validation from my working cell to the formulated cell
(INDIRECT to the formulated cell). Dropdown appears, in
the working cell, and pick the text.
I then hid the column that the formula is in.
Kind of ugly but effective.