SYMPTOM
When trying to update a parameter value by using another parameter that will contain any of the arithmetic operators +, -, /, and *, following error message is displayed in Strategy System Manager:

Sample Code/Error
Equation can only be a series of integers separated by valid operators ( + - * / )
Failed to update parameter 'Parameter_Name'
Exit code: -1
STEPS TO REPRODUCE
1. In Strategy System Manager, create a new work flow.
2. Add an Update Parametersprocess to this new work flow.
3. Configure a new parameter for this process to have a value like "03-24-2014"; notice that hyphens ("-") are used to separate, e.g., a date value in the mm-dd-yyyy format.
4. Switch to Properties tab; in the Parameter Name field, selected the newly create parameter.
5. In the New Valuefield type in the new parameter value, e.g.: "Test_${PARAMETER_NAME}" as in the screen shot:

5. Execute the process to reproduce then the issue.
CAUSE
The issue happens because apparently System Manager is trying to perform mathematical operations with the new values containing either of the signs +, -, *, or / ignoring its data type.
WORKAROUND
If the Update Parameterprocess is being used to update a file name for instance, then it is recommended to use any other symbol other than + - * / in the parameter value. For example: 03.24.2014.
ADDITIONAL TROUBLESHOOTING
For further troubleshooting the following log files / information would be necessary:
LEARN MORE
For further reference on Strategy System Manager, check the following: