Remove the line breaks. It's not called out in the release notes and examples always seem to show line breaks (for readability) but line breaks do not work.
This is called out in this article, but I've also run into the same issue.
Bhawna is correct, you cannot call a Lightning Component from a List button directly.
In the past, I have implemented something which may be useful in this scenario.
Create the component you want and make it implement the lightning:isUrlAddressable interface
We had a need for the same, and Sander de Jong's answer on another question led me down the right path: you'll need to wrap the whole thing in a URLFOR expression. Note that this also means you'll need some slight changes in syntax, using + to concatenate instead of & and removing the braces and exclamation points from the merge fields.
I believe this ...