Adam, you are using wipeouts to mask text? Why not use the background feature in MText objects? When you change the width of the MText (aka word wrapping) the background masking automatically goes with it.
Use a one-cell table with white color (255,255,255) as cell background color.
Edited by: ZEROrdinary on Apr 28, 2010 2:55 PM
Just realize you need to do it for existing text. So my suggestion does not apply.
I am not using 2010/11 yet, but what about using parametric constraints? Can you constrain the endpoints of lines to the insertion point and nodes of an MText object? That way, when you stretch the word wrapping of the MText, the constrained lines stretch with it.