Your test needs to evaluate to true in order to pass validation (you are making an assertion about something). What you are currently saying with your condition is: the text node of ns1:some-element
MUST have a value of 'false' AND ns1:some-other-element
MUST exist. Anything else is an error.
The condition you are probably looking for is
<iso:assert test="ns1:some-element = 'false' and /ns1:same-other-element or ns1:some-element != 'false'">Error message</iso:assert>
This condition will be true whenever ns1:some-element
has a value that is not 'false', regardless of whether ns1:some-other-element
is present.