I had this same problem and replied with this to another posting, but in case you didn’t see it…
OK, so I checked out some other postings and it was suggested that corrupted fonts or other font issues might be the cause. I bought a program called Smasher from Insider Software for $50. It was about the best 50 bucks I’ve spent. It IMMEDIATELY resolved the issue. You need to “Smash the Cache” to fix the problem I had, but it was very fast. When it rebooted I was a little worried as it looked stuck with some startup issue and wouldn’t boot up. I’m not saying I recommend this, but after about 10 minutes I hit the power key on the front and restarted. Came right up, and FCP text works like a champ again.
My 2 cents.