The warp tool has been in Blender for years! I have used it quite a bit, mostly for text, like you. I tried it here also and it DOES invert the text now. So odd. Up until 2.42 it didnt do this (I never used 2.42a) You might want to post this in the BA forum.

P.S. It also inverts it when you use a lattice, by the way.