Everything I have tried works just fine. What specific text animation preset is not working? If it is a custom one please provide a screenshot of the layer working in another version of AE and a screenshot of it not working in x48 ( the latest update) of CC 2015. Select the layer and press the U key twice to show us all modified and animated properties so we can see what is going on.
I am attaching a screen capture showing the affect (or lack there of) as well as some screen shots of my settings. I have done nothing different other than get the update.
Looks like I can't upload an flv attachment. Is there any other way to import an attachment?
FWIW, I just got off the phone with Adobe and they said it is definitely a bug in the latest version. I am rolling back a version
Are you working on After Effects 13.5 or 13.5.01?
In the path option are you able to select Balloon Flight Path?
I am now running 13.5.0347. I honestly can't tell you what I was running when it didn't work. It was the next version higher. And no, I don't have that path option at least in this version