Formula Text - using string comparison operators - not working

I am trying to use string comparison operators in a Formula-Checkbox field but am striking out at the simplest use-case.

Field Type = Formula-Text, Field name = Scan Bucket, Field ID = 45

Field Type - Formula-Checkbox, Field Name - IOSOtherHit, Field ID = 42

I want the box checked if 'Scan Bucket' contains the letters 'WAP'.  Unchecked if it doesn't.  The letters 'WAP' could appear anywhere in the string. 

I could not get the formula to work with just the .CT. comparison operator.  I had to put it within an 'if' statement and start it off with another boolean expression for it to not error out.  Here is what I am going with:

Formula for IOSOtherHit:   If(ToText(2)<>ToText(1) & "{45.CT.'WAP'}",true, false)

However, as you can see from the mini report below, it is still hitting on strings that do not contain the letters 'WAP'. 

Any suggestions as to what I am doing incorrectly will be appreciated.