What you tried should work, provided the name selected from your value list exactly matches the name given to your layout and this assumes that you don't then rename your layout to be something different.
you are correct it does work. For reasons I can't figure out I had to completely rewrite all of my scripts pertaining to this action. The good news is my scripts which call the appropriate report got alot shorter. Instead of performing complex calculations to determine what report to use all I need is a layout for each report and I can now call it by name based on a field in each record.
I originally when trying out the Go To Layout Name by Calculation simply changed the Go To in one of my scripts from a specific name to a calculation and it kept using a layout which is not even related to the search. I still don't know why it didn't work when I did that but at least it all does what I need now. Amazing how we sometimes over complicate things only to find a much easier way after the fact.
If you posted this also in Report an Issue, please read my response there. The person who posted there had a calculation that was not correctly returning the layout name, but was also getting an extra return tacked on the end of the text...