For example, I want to change the status result which is produced on a report from 'Passed' to 'GO' or 'Failed' to 'NOGO'. I know that you can edit the report colors for the result text in the Report Options menu, but I can't seem to find a way to edit the actual result text. I've also looked in the horizontal.xsl stylesheet to no avail.
I would start with modifying the report header. In the sequence ModifyReportHeader look at the parameter ReportHeader. It contains the UUT Result, usually "Passed" "Failed", "Error" or "Terminated". Replace that part of the string accordingly.