You seems Summing in a record, then don't need Sum() function at all, use + instead.
(Left (Channel1Num ; 1 ) = "*" ) +
(Left (Channel2Num ; 1 ) = "*" ) +
Logical function returns 0 or 1, so you can omit If in this case.
Thanks so much! This was a great learning experience. Boy, sometimes I can overthink a problem. I don't work in FMPro that frequently, and so this will help me in how I approach future problems more logically.