If PuttableF is a field that contains "Y" or "N", then use it as dimension, and do a Count(Field) where Field is any field related to those Y or N.
Anyway, check some missing single quotes in your expression:
=if(PuttableF = 'N', 'No', if(PuttableF = 'Y', 'Yes', 'Neither'))
Note that conditional based calculated dimensions will take a lot of time to render, so avoid them whenever possible.
Hope this helps.
Thanks Miguel, the single quotes worked. I have a pretty nice sized if() statement dimension already in the chart (and noticed the difference in time it took to save/open the file). But doesn't the count() function just give the number of Y or N values and not the values themselves? I need to display the actual values too.