I have run many tests and couldn't get this to work. The documentation I have ("12.8.1 Reporting Guide") does not mention the syntax of the Visibility box as displayed above. I tried a variation of the HTML code, removing the "<%" bits and left it as regular CT formula syntax to no avail. The HTML component displays even if the formula resolves to "hidden":
(later)
I'm starting to think that there's a misunderstanding about what the Visibility dialog box means by...
This is the HTML component content:

I configured Visibility as follows:

And the code does resolve to "hidden":

Yet, CT displays the HTML box:

We need additional firepower here...
#TBMStudio