Is the calculation field type text ? Also you would want this to be an unstored calculation. Under Storage Option, click "Do not store - recalculate as needed"
It should be:
If (CSR status = 1; "Open" ; "Resolved" )
What you had was a boolean expresssion that compared the field "Open Resolved" to the text "Open" and another that compared it to "Resolved" the result of each expression would be True or False (1 or 0 ) , not the text "open" or "resolved".
This can also be achieved without adding any calculation field at all.
Add two layout text objects placed on top of each other where you want to put this field. Use conditional format expression on each text object to set the font size as 120+ points to make it invisible when it should not show.
Thankyou very much Gurus! You have been a huge help. See Screenshot