... So, just by way of education, that's also would've worked
IF(
[Status] <> "Closed" and [Status] <> "Transitioned",
URLRoot() & "db/" & [_DBID_BJS_YOUTH_UPDATES] & "?a=API_GenAddRecordForm&_fid_12=" & URLEncode ([Record ID#])& "&z=" & Rurl()
)
But in my experience, you want to write these formulas so they are really really stupid simple to understand. Sunday future you in three years from now will look back at a formula and try to remember what it was supposed to do or you may inherit a formula from somebody else or be passing it on to somebody else. So you want these formulas to be obvious. Using formula variables can help do that. Here is a link to help text.