You must put "ELSE" as a different Event.
For example, if you want to accomplish something like this:
if ( MyObject('myVariable') == 12)
You have to prepare such events:
Conditions: MyObject('myVariable') is equal to 12
Event #2 (right below Event #1)
When you use "OR" then OR is just withing the same event. But when you are using "ELSE", this "ELSE" must be a seperate event. What is more, this "ELSE" event must be put right below event you want to have else-d. You'll notice a line connecting Event #1 and "ELSE Event" - this line shows which event the "ELSE Event" is referencing to.