I encounter this strange behaviour on a MacBook Pro (Late 2008). I tried to switch graphics chip to "high performance" but still no luck.
However, the file opens and works without problems on another - newer - Mac.
BTW: Changing the text colour on my MBP have no efect on the screen although the information in the inspector looks correct.
Any clue ?
Edit: The problem is somewhat connected to Arial font. Other fonts seem to behave correctly, just Arial stays white regardless of text color setting in inspector.