Okay, I've figured out the issue.
To use fewer keystrokes in the caption field I inserted the beginning part of the CodeR code where I want to use it like this:
August 9, 2008 - St. Joseph, IL - \fc at the St. Joseph 5K Run. Proceeds from the race were donated to the St. Joseph-Ogden High School cross-country teams. \rrAll I wanted to be able to do was type in the number and the last \ at the end of each replacement string. When I tried inserting the number after the "\fc" nothing would happen as I mentioned above. I tried the same replacement code in another field and it worked fine. Next I removed the last "\rr" and tried the \fc. It worked.
I'm guessing that CodeR is reading everything between the \fc to the next "\" before the rr. Inserting the terminating "\" at the end of the first code is ignored and the function won't work.
To solve the problem I just had to add the second slash to each code.
Kirk: Would it be possible in the future for users to have the ability to set up a pair of function keys to remember a string a characters so that if I hit f4 then it would add \fc\ and then I type the number? f5 could be the opposing team or second code that would be used during the replacement. I guess the could be a code replacement hotkey function.