Yes I do this.
First create two fields. One with a calc of 1 and the other that counts this 1 using once so that it does not change if you go backwards in the repeat.
type name label Calculation
hidden RepeatCount RepeatCount 1
calculate TransectNum TransectNum once(count(${RepeatCount}))
Then use this count number to do a lookup to a csv to get your value.
type name label Calculation
note Transect Transect pulldata('TransectCodesMid', 'TransectLetter', 'TransectNum', ${TransectNum})
pulldata is like this (csv name, return column, lookup column, field with lookup value)
The csv is a lookup of number and value (mine was a simple A-D but it could be anything). This csv goes in the media folder.
TransectNum TransectLetter
1 A
2 B
3 C
4 D
I have also done things like
1 Left
2 Right
I use it all the time. The only time it was weird is if I am in a repeat that is within a repeat. See my post from yesterday on this.
I hope this helps.