I'd like to find a way to add coded values to a Text domain using values from a table field, if such a thing is even possible. I'm using the Add Coded Value to Domain tool connected to two variables: Name and Description. While this hasn't worked yet, what I've tried was making the value of each variable the same as the two field names from my table with the name and description I'd like to have. My syntax for Name was %VendorName% and my syntax for Description was %VendorDescription%. All this does is create a string literal %VendorName% coded value. Is what I'm trying to do possible?
I am just considering your attached image only.
Create a string variable (i see "Vendors" what you created) for "Code Value" and another for "Code description" (say you created "My Coded Value Description") as string. Then double click in the tools' "Code Value" and write %Vendors% ;again double click on "Code Description" and write %My Coded Value Description% - care only % and inside the name. After all assign other two input "Workspace" and Domain". Now just run the model.
In short Name "Vendors"------> in model it will be exact with two leading and trailing % i.e. %Vendors%
For naming valid character consult here.