COlumnA cannot be BLANK if the ColumnB has one of the value (Alpha,beta,Ray,john,text)
I have always seen that conditional split acts weirdly when checking for NULL columns..I have also seen that ISNull() does not work correctly..
I would check for Length of ColumnA to determine if its a NULL Value
(LEN(TRIM(ColumnA))>1) && ( [ColumnB] =="Alpha" || [ColumnB] =="Beta" || [ColumnB] =="Ray" || [ColumnB] =="John" || [ColumnB] =="text")