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Sourav PSourav P 

Issue in triggering the WF rule for a checkbox field update

I have a simple WF rule created in Quote object, as below, It seems everything OK, But its not triggering to update a checkbox field to TRUE. Can anyone plz suggest where i went wrong or whats the issue  ? Thnx

WF Rule ( 3 rd option : Evaluate the rule when a record is created, and any time it's edited to subsequently meet criteria)

Logic : It should update a checkbox field in Quote to TRUE if the Contract activated time is greater than 16.30 ( we have 24 hr format)

IF(VALUE(MID(TEXT(Contract.ActivatedDate+(7/24)), 12, 2)) >16, true, If( VALUE(MID(TEXT(Contract.ActivatedDate+(7/24)), 12, 2)) = 16, IF(VALUE(MID(TEXT(Contract.ActivatedDate+(7/24)), 15, 2)) > 30, true, false), false ))

Field updation as below,

User-added image