Text from variables disappearing from instances with latest Figma update?

I am running into a bug only in the past 2 hours. Any instance of a component with variants that has text from a variable now won’t show the text.

Is anyone else seeing this problem? I can re create this with a very simple 1 text component.

Here is a screenshot.

To provide more clarity, this functionality was working fine for me up until today. I have several components whose text is a variable. Only in the past 2 hours has these texts started disappearing, first in the “Present” mode and then in all instances that I change or create.

All new components created this way also do not show text.

The only new ones that show text are if I create an instance first, and then change the text of the component to the variable. New instances created after the variable is selected will have no text as seen in the below screenshot:

Hey there,

Thanks for flagging. It looks strange. Would you be able to share the file link? I tested on my end with the latest update, and I can’t reproduce this issue.

Thanks,
Toku