This is difficult to use in a Change event because a user may start typing the beginning of a valid fractional expression, but if they don't finish then it's not valid. So you have to check twice--once when they are typing, and once when they are ready to submit.
The best way to deal with this kind of validation is regular expressions. I have shown one validation that can be used as the user types into the text box, and another one that must be used when they are finished, typically by hitting a Submit button.
Valid forms for fractions in progress are:
#
#-
#-#
#-#/
#-#/#
#/
#/#
where # is 1 or more digits
Valid forms for completed fractions are:
#/#
#-#/#
where # is 1 or more digits
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