You cannot display Flash 8 SWF static text in Flash Player 7 or earlier.
This is a documented issue. There are similar issues with some shapes as
Flash 8 uses a completely new and different tag in the SWF file for static
text that earlier flash players will simply ignore.
You really need to ensure that the user has the required player ... old
players cannot be expected to play newer SWF files. If your SWF IS able to
be played in and older player(because it doesn't use newer features) then
you should publish it for that older player. There is little advantage in
publishing for a higher version of player than what you need .. it just
reduces your possible audience.