Have you tried clicking on 'Display Planar Objects' in the OIP when the viewport is selected?
3D Text doesn't render well in a viewport I'm afraid, certainly not good enough for presentation standards.
The work around is to duplicate the viewport on top of the existing one and only turn on the text class and then set the rendering to wire-frame.
The viewport below, without the text should render fine and the one on top should show up the 3d text in wireframe. I hope this is helpful!
I was hoping that this issue would be addressed in 2012.