Why Wont this work?

Scripting
1

function OnControllerColliderHit

{
transform.Translate.y+=1.0;
}

2

Translate() is a function, not a property like your code attempts to use it as. To move your transform, modify its position instead:

function OnControllerColliderHit (hit : ControllerColliderHit) {
    transform.position.y += 1;
}