Am i doing it wrong or does it not work. Because no matter how long i wait nothing happens

You'll need to be a bit more specific, all your post has done is confused me. -.-;;

Under settings there is a option to get your "Uploaded tags" calculated.
here is the link http://e621.net/user/calculate_uploaded_tags

slyroon said:
Under settings there is a option to get your "Uploaded tags" calculated.
here is the link http://e621.net/user/calculate_uploaded_tags

I tried that. It said "Uploaded tags are being calculated. Please check back in 5-10 minutes." but nothing happens in 5-10 minutes! There's nothing indicating a list of some sort has been created or anything.

Just do it manually. I don't think the calculation function has ever worked.

*wonders why such a function exists if it doesn't work*

It works, it just doesn't do anything because the line on your userpage where it places the tags calculated by the function has since been removed.