I don't think you are the first to report this dire bug. It really makes a nonsence of transparency if it means white in text but transparent for everything else
This has been previously reported:
For More Information see: http://forums.filemaker.com/posts/132fd6054d?start=1&stop=10#189345
This is one of many acknowledged bugs that can be found in the Known Bug List thread here in the Report an Issue section of the forum.
It can also be downloaded as a database file from: https://www.dropbox.com/s/jt09b82i0xijbu3/FMP%20Bugs.zip
As a work around, you can almost always get your text to fully disappear if you specify a font size of 500 instead of the non working transparent text color option.
Is the bug that you still see transparent text?
Maybe someone at FMI can just add for next FM a check there.
if Color ≠ None then
This way a no color could really mean no text.
I think this Report is not about the Bug itself anymore since you have a solid option to achieve same result with the new function
This is just a proof of some management issue with FMI at all, regarding Quality Assurance. As I mentioned in a german forum today: Some 4-eyes principals, control of new functions etc. obviously doesn't take place at FMI.
At least with FM15, the color pattern "None" still exists in the palette but you won't be able to select(?!).
As this german saying goes: "So wie die arbeiten möchte ich meine nächsten Ferien verbringen."