not sure but maybe you need to close the brackets above the else
Code:
  
on @*:text:*:#: { 
 if (@* iswm $1) || $&    
 (!* iswm $1) {    
if ($+(%cs.textwarntest,$nick,$chan,$network) != $null) { kick $chan $nick }    
else { set $+(%cs.textwarntest,$nick,$chan,$network)warn     
msg $chan blah    
}  
}
}


Code:
  
on @*:text:*:#: { 
 if (@* iswm $1) || $&    
 (!* iswm $1) {    
if ($+(%cs.textwarntest,$nick,$chan,$network) != $null) { kick $chan $nick }        
}
else {  set $+(%cs.textwarntest,$nick,$chan,$network warn     
msg $chan blah    
}  
}