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This is a bug, and was suggested to be logged here by @mihart from this forum post:
https://community.powerbi.com/t5/Service/Text-not-updating-in-dashboard-tile/m-p/139425#U139425
Details are on creation of a dashboard text box, with no links to reports. If you save the text box and then go to edit the text box, you are able to edit it with success, until you refresh the dashboard or file, at which time the updated text dissapears and the text box reverts back to it's original content.
In short, text boxes are not retaining content when an edit is made.
Chris
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