Have noticed that when using the <text> tag in the HTML embed element, the text no longer shows in the Designer, but it shows fine in the published site. Just me?
Is there a reason you’re using that tag in the project? I’ve never seen it used myself and a quick search doesn’t turn up any semantic reasoning behind it.
<div>, <p>, or <span> are all valid alternatives that should show up in the Designer as expected 
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Now that’s an obvious thing that has not crossed my mind! 
Have used <text> since way back and it has always worked. Old habits die hard!