Text and 3d transforms bug?

I have an odd problem in CS4/AS3 with one of my flash files where text is incorrectly rendered if the movieclip containing the text has a 3d matrix transform and quality is set to medium or low.

It is easy to reproduce:

  1. new flash file (as3)
  2. create a movieclip named TestSymbol
  3. place a text in this movieclip and enable font embedding (required)
  4. place this movieclip on scene1, name the instance Text
  5. place this code in the first frame of scene 1:

stop();
addEventListener( Event.ENTER_FRAME, Rotor );
function Rotor( e:Event ) { Text.rotationY += 1; }

  1. run the movie and try changing the quality setting

Is this a known issue and if so, does anyone know of a workaround?