I did as well.
Seems there are lots of explanations as to how this should work, none of which worked for me.
What I found works (for me!).
- push and hold "n"
- while holding down "n" push and hold pwr
- keep holding until text appears - don't let go yet!
- nook will power off after a few seconds
- release power and n
- repeat 1-3 immediately
- text will stay for around 10 seconds this time, BUT
- let go of both keys after 5-6 seconds
- You should now boot into recovery.