As you said, without the context, is likely to be taken as "to say [something] to " or "to call [something]". However, in this context, this sentence clearly means . usually takes / or a nominalizer, but it can also take an ordinary noun.
> Is the form as it is given in the dictionary entry above a commonly used one
It's not wrong nor difficult, but it's not very common, either. Even a native speaker may feel puzzled and think for a second at first sight.