hmmm- I too have PSCS and I have no problem with text on a path.

is your scratch disk on the same drive as photoshop?
if so, try moving it to a different drive (if you have one):
Edit>Preferences>Plug-Ins & Scratch Disks
and set the one that says "First" to a drive other than where photoshop is (if it says startup- that's where photoshop is)

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~Laurie Garza~