I'm also going to log a feature request to move this to the Actor menu. Doesn't make sense that it's not with all the other actor-related show/hide menu options.
I'd recommend building your file using the OSC Address Listener actor.
That way, whatever tool you made to do this can be put into a User Actor and used in any file instead of being locked to this one specific Isadora file because of Stream Setup.
It's showing the size of a blank character (space). Notice that if you leave the 'text' field blank or put a space in it, the text width/height doesn't change. Seems like a bug. I'll log it.