Investigating
P: Selecting a text color and committing causes the text to flash and revert to its original color. Resetting font cache does not fix it. Using a clipping mask is the only workaround."
Select Type tool, type some text. Select it & try and change the color with the text color picker. The text just flashes with no color change. Using the eyedropper from the same color picker gives the same results.
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