So that a formula field reads "False" in edit mode but "True" when adding a record?
Can you please elaborate on the issue itself, you might have better luck finding a solution through Form Rules rather than a Formula!
Actually, the whole point of this field is so that I can form rules trigger when adding a record and not when editing one. I did end up with a solution using form rules, though another solution I thought of was having a field, that say something like "yes" or "no" for if a record was in the add state. So thats why I wonder if it was possible to have a field detect record state in a formula.