Display Shipping Addressee on a saved search in 2 separate columns (First Name then Last Name).

Solution:
1. Navigate to Lists > Search > Saved Searches > New
2. Click Transaction.
3. Enter your filters on the Criteria tab.
4. Click Standard sub tab.
5. Click the Results tab.
6. Click Columns sub tab.
7. Select Formula (Text) under the Field column.
8. Enter the formula below under Formula column:
     SUBSTR({shipaddressee},0, to_number(INSTR({shipaddressee}, ' ', -1)))
9. Type in First Name under Custom Label column.
10. Go to the next line to select Formula (Text) under the Field column.
11. Enter the formula below under Formula column:
     SUBSTR({shipaddressee}, to_number(INSTR({shipaddressee}, ' ', -1)), LENGTH({shipaddressee}))
12. Type in Last Name under Custom Label column.
13. Preview.

Note: This can be a workaround for Enhancement 181178.