Can't undo bulleted text by high lighting the text and clicking the bullet button. Can click the Numbered text button and change the list to that then click the numbered text button again and the formating will then go away.
Make sure that you are highlighting all the text and all of the bullets. It might help to highlight a bit before and a bit after the first bullet and the last word.
I'm using beta 4 (in Vista) and am seeing the same thing as wrr.
Open up the text editor, turn on bullets and being typing a few lines. Then try turning off bullets. In my SS-Pro, it does not work. You have to turn on numbered bullets, then turn off numbered bullets to get back to normal text mode.
If the text object contains nothing but bulleted text, using Ctrl+A to select all, then trying to turn off bullets also does not work.