you are another victim, I think, of the parametric text "enhancement". You have to put regular text into quotes now (everything else is assumed to be a parameter name). Try putting your text in single quotes (I don't know if double quotes will work, but I would hope so).

With the introduction of Parametric Text, all plain text but be entered between the two apostrophes. You can read about it here, scroll down until you see "New Parametric Text".
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John Hackney, Retired
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@jeff_strater I think this Was a bit of a miss on the Implementation
It assumes end users know programming languages and how to use escape characters etc to format the strings. like having to type \' to get an apostrophe if you wanted to type can't you have to type 'can\'t'
I didn't know this and the help documentation doesn't cover this either
you should just be able to type in text as normal, really bad UX IMO
Andrew Laas
Senior Machinist, Scott Automation
Set textboxes to normal by default and change it to parametric ONLY when clicking the FX button. Then users won't be having so many complaints with this implementation. Or at least add ALL relevant info to the documentation before pushing a global implementation.
\ = escape character to be used inside of the single quotes for text detailed below
\n = new line
\t = tab
\' = apostrophe
/mm = converts a parametric value to display in mm instead of the base unit (should work for other unit conversions)
Showing a unit as fractional instead of decimal, ex. 1 1/2 instead of 1.5 = currently unknown (haven't seen any post showing away to do this yet other than a situational workaround I came up with using nested if functions)