Nope, the forumla change is not correct, by sheer luck (and sleuthing of the pop up notifications) I stumbled across the answer. THIS is the correct formula:
Filter(Turnouts, (Value(ExpirationCounter)) >= 5, (Status.Value) <> "End of Life")
You have to have the comma after the List (or lookup item name) because it's required by the syntax of the Filter command. The paranthesis around the Value function is required because it must be evaluated FIRST before it can do the math that follows, so it represents a single number to evaluate. Thus it looks up the column, then generates the Value, then compares the statement. The comma means another logical test follows. Now, here's where I stumbled upon the solution that let me fix the first statement. I couldn't even get the Status column to evaluate correctly but for giggles I put in some more normal dotted code and POOF! all my indicators went away after I put it in paranthesis. I did that on the first statement and it works great.
So, lesson is, try about everything and don't trust Microsoft documentation because it falls a bit short on the stuff you can actually use in a given situation. The prompting could be a bit better but what was there did help me sleuth it out. Far from Elementary dear Watson!