Setting up a view system for encantsbcn.com I encountered a problem.
I needed to show a formatted field if another (formatted) one wasn't present, in a switch case manner)
I found the solution in the Drupal forum: https://www.drupal.org/node/1081214 reply #10 did the trick.
- Add both fields
- Make the first one invisible (exclude from display)
- In the second field go to no result behavior tab.
- Write the token of the first field (example: [field_name]).
This worked like a charm and even allows the no result behavior to be output as HTML.