I forget put delimiter directive, some semicolon and was using tsl syntax like [choose variable = area] that's not valid in mysql.
Mysql error if you use tsl syntax is [not permitted to come back an effect set from the function] and dont help much.
@AndreKR point everything in my experience, thanks.
Im using mysqlworkbench 5.2.30 CE. The job function become:

delimiter //
CREATE FUNCTION nextval (seq_name varchar(100))  
  RETURNS bigint(20)  
    READS SQL DATA  
  NOT DETERMINISTIC  
    BEGIN  
     DECLARE workval bigint(20);  
     SELECT count(1) into workval  
        FROM tip_sequence  
        WHERE sequencename = seq_name;  
     IF workval <> 1 THEN  
        DELETE  
            FROM tip_sequence  
            WHERE sequencename = seq_name;  
        INSERT  
            INTO tip_sequence (sequencename, sequenceval, sequencestep)  
            VALUES (seq_name, 1, 1);  
     END IF;
     SELECT sequenceval into workval  
        FROM tip_sequence  
        WHERE sequencename = seq_name;  
     UPDATE tip_sequence  
        SET sequenceval = sequenceval + sequencestep  
        WHERE sequencename = seq_name;  
     RETURN workval;
    END//
delimiter ;

Because the DECLARE workval bigint(20); lines are the first having a semicolon in the finish, I suspect you didn't remember to alter the delimiter before typing the function code (though this is dependent around the client you are using).

Try altering your code to:

DELIMITER #
CREATE FUNCTION nextval (seq_name varchar(100))  

...

END#