However, the merge field takes the size of the field name in the layout and disrupts the organization of the other elements.
You can put multiple merge fields inside the same block of text. This will enable the text to adjust to correctly display the values when you return to browse mode. As long as the text object does not extend outside the borders of a portal or tab control, that should produce a result that isn't pretty in layout mode but is correct in other modes such as browse or preview.
You can also select the portion of the merge field option shown in red: <<Table::FieldName>> and select a very small font size and the format specified for the black outer <> brackets will determine what is seen when you return to browse mode.
If you choose currency as a data format, you can use oz as the currency symbol to show 0.8 oz.
Your text calcualtion can format and include any leading zero when needed:
If ( Field1 < 1 ; "0" & Field1; Field1 ) & " to " & If ( field2 < 1 ; "0" & field2 ; Field2 ) & " oz"
Thank you PhilModJunk for the broad and empowering explanation. The calculated text field solution seems to be the most elegant.
In the meantime I was able to subdue the merge field to fit in the table, but it is like a Jack-in-the-box thingy waiting to spread all over the layout!! :-)