I seem to remember that how to resize text has changed in some previous versions. There is also a difference between a text area (left-click & drag right and down in the Text Tool), a text column (left-click & drag right/horizontally in the Text Tool) and just text (left-click in the Text Tool and just start typing). You might know all this but perhaps it clarifies some of the unexpected behavior you encounter. For further reference, this is from the Help file:
Resizing text areas
Using the Text Tool, you can click and drag on any of the corner control handles. The text in the area will be reformatted to fit the new size. If you resize a text area using the Selector Tool, using the corner control handles, the text itself is scaled as well, but use any of the other control handles and the text area size is changed and the text reflows in it to fit the new size.
You can also change the size of the text in the text area, by going into the Text Tool, select all the text with Ctrl+A and change the font size on the Text Tool InfoBar.
Scaling text areas and columns
If you scale a text area or text column using the Selector Tool, the text itself is not scaled, only the dimensions of the area or column are changed. Use the Text Tool font size control to change the actual text size. However if the text is inside a Group, resizing the group will scale the text.
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