Hi
The first fault is probably just cosmetic but still need to be addressed.
If I add a text it appears initially as a chequered "T" in the media list and a chequered blank frame on the timeline and a chequered blank frame in the Clip Preview screen.
Video track 2 is highlighted.
So far this seems OK.
At this point I can add text in two ways but the final result differs
Way 1
I can click the text input box and enter some text. "ABCDEFG"
I have chosen large bold yellow centrally placed text on a full black background.
The Clip Preview screen now shows the yellow text on a black background.
Nothing further happens until I click outside the text entry area when the thumbnail image on Video track 2 reproduces the text on the black background and the Sequence Preview pane shows the same..
However the thumbnail on the Media list remains a blank chequered area.
Shouldn't this thumbnail also reflect the text on a black background?
If I click the thumbnail on the media list the Clip Preview window shows the text but the thumbnail does not, it simply highlights blue.
Way 2
I select the Media list thumbnail first and then enter the text.
The text appears correctly now both on the timeline and the media list.
Both methods should end up the same.
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Adding a SCALE effect has a problem.
Having added my text as above
I can click the timeline and scale the text horizontally by say, 200%
This plays correctly but if I have chosen method 1 to add my text the media list thumbnail does not change it remains blank. It should change to reflect the scaling.
More importantly if I select Method 2 to rescale the text, the media list thumbnail now reflects the changes but the sequence line does not.
As can be seen here...

Media list shows the horizontal scaling but the sequence line image remains unscaled.
It seems this is a bug.
Nat