And a couple more comments... 
Setting a variable (S) equal to a SQL string does not execute the SQL any more than setting a variable (S) equal to a string "100+20" will calculate (add) the numbers.
Therefore, as Ajax said, IF the text box had the focus, you would be setting the text property to the SQL string. The text property of a text box holds the uncommitted value - once the record is committed, the Value property holds the SQL string and the Text property is NULL (IIRC).
"Me.txtvarExtensionSettingValueList.Requery" does nothing - there is nothing to requery in a text box..
Use of "Like" - this does nothing because there is no wildcard before or after the variable. (Same as Ajax said, but worded different
)
You could try this:
Code:
Private Sub cbovarReportTitle_AfterUpdate()
Dim iVal As String
Dim S As String
Dim r As DAO.Recordset
iVal = Nz(Me.cbovarReportTitle.Value, "")
S = "SELECT varExtensionSettingValueList from dbo_tbl_Custom_Subscription_Subscriptions where varReportTitle = '" & iVal & "'"
' Debug.Print S
Set r = CurrentDb.OpenRecordset(S)
If Not r.BOF And Not r.EOF Then
Me.txtvarExtensionSettingValueList.Text = S("varExtensionSettingValueList")
End If
r.Close
Set r = Nothing
End Sub