Thanks Ryan, thats it.
when I put 100ms delay, TC was actually taking longer than 5s which made it look like counter didn't work.
If i change the delay time to 1000 ms and counter<= 2500, its working fine.
I would love to use WaitNNN method (never knew). Here is the objects full name:
"Aliases.browser.pageRedOwlReports.formAspnetform.panelReportPanel.cellResourceActivityVolumes"
or
Sys.Browser("iexplore").Page("http://redowl-web1/RedOwl/RSReport/RSReport.aspx").Form("aspnetForm").Panel("content").Panel("panels").Panel("rightPanel").Panel("rightContent").Panel("mainColumnTop").Panel("reportPanel").Panel("report_panel").Panel(0).Panel(0).Panel("reportViewerDiv").Panel("ContentPlaceholderRight_ContentPlaceHolderMain_UpdatePanel1").Panel("ContentPlaceholderRight_ContentPlaceHolderMain_reportViewer").Table("ContentPlaceholderRight_ContentPlaceHolderMain_reportViewer_fixedTable").Cell(4, 2).Panel(0).Panel(0).Panel("P0639d4ddab204b1b8e8079d362352638_2_oReportDiv").Table(0).Cell(0, 0).Panel("P0639d4ddab204b1b8e8079d362352638_2_gr").Panel("P0639d4ddab204b1b8e8079d362352638_2_gr").Panel("P0639d4ddab204b1b8e8079d362352638_2_11xB_gr").Table(0).Cell(1, 1)
Its a dynamically generated website so name mapping is really helpful.
Regards,
Shiva