[Sweetsour]

textFrame:RegisterEvent("UNIT_AURA")
 textFrame:RegisterEvent("PLAYER_REGEN_DISABLED")
 textFrame:RegisterEvent("PLAYER_REGEN_ENABLED")
 textFrame:SetScript("OnEvent", function(self, event, ...)
 
        local combatcheck = "false"
        local count = 0
 
    if event=="PLAYER_REGEN_DISABLED" then
            combatcheck = true -- change to boolean
        elseif event =="PLAYER_REGEN_ENABLED" then
            combatcheck = false -- change to boolean
        end
 
            if (unit and unit ~= "player") then
                 return
            end
 
             --  Check player buffs against the roll the bones buffs
                for buff in pairs(buffs) do
                        if UnitBuff("player", buff) then
                            count = count + 1
                        end
                end
 
             --  Give warning if need to reroll the bones
             if not combatcheck then -- same thing as cooldown == false
                  textFrame:message("")
                elseif combatcheck and (UnitBuff("player", "True Bearing") or UnitBuff("player", "Shark Infested Waters") or count >= 2) then
                     textFrame:message("")
                 else
                     textFrame:message("REROLL THE BONES!!".." "..tostring(combatcheck)) -- need to convert booldean to string to concatenate
                end
 
 end)

Made changes to lines 10, 12, 27, and 29.

In the last elseif (line 29), try encapsulating the "or" conditions within brackets.