There is a small bug in Designer X7 64bit. 17.6.0.1021
If you draw a text item and change the font or size, and then click a preset, the preset does nothing.
Now if you click off the item and click back on, the preset doesn't work until you choose a different preset first.
This bug can also can also be reproduced by changing the font instead of the font-size.
Thanks for reporting this!
The problem seems to be limited to the "S1000D 8 pt" preset as the 1st item in the list. As soon as you click on one of the other presets, the text formatting gets updated and the "S1000D 8 pt" preset reacts as expected afterwards. Here's a small video showing this:
We will look into this - for now please use the described method of clicking a different preset first as a workaround.
This bug still exists in Designer 2017.