Help! Problem with text aspect ratio in PAL D1/DV Anamorphic project

Can anyone help with the following:

Running Motion 3.0.2 on a Power PC G5

I'm working with the above settings, but when I add text the text is stretched! That is, the text is behaving behaving like it's a 4:3 asset and is squeezing to the 16:9 aspect ratio.

Surely, I don't have to manually change the text scale to the correct proportions?

NB: The 'correct for aspect ratio' setting is on so the canvas is the correct 16:9 aspect ratio