In this Tips and tricks session. I had a customer call in with an issue. They were XREF'ing another file into their drawings and the "text" was not showing up at all. Even though the layer was on the text seem to disappear all together and would just show the leader line....crazy right....
Well the issue was with a Font style used in the XREF was not a Font style that the end user had. Sooooo instead of AutoCAD replacing the font with another it just DIDN't SHOW the text.
The variable here in AutoCAD was the culprit. The command "Fontalt" if set to "." will turn off text that your system doesn't have the same font installed as the xref'd file. There is a setting here to select an alternate font. Makre sure to have the alternate font such as simplex listed.
Below is a link to a short video on Autodesk's Screencast on how to fix this.
Best of luck out there,