I decided to try the ImageMagick option instead of GD and I get the following error in my error log;
PHP Fatal error: Maximum execution time of 30 seconds exceeded in ...anyfont/lib/php5/class.image.php on line 271
It's really bizarre. When testing my site through Firefox most of the text replacement images are generated correctly but when using IE the images don't appear.
From what I can see this problem happens with version 1.3.3 and still persists when I upgrade to the latest version (2.2).
I only investigated when my web hosts complained I was racking up crazy amounts of CPU usage.
Any help would be appreciated. Thanks!