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I was in the middle of creating something when the text tool stopped working. I will type something and it won't show up but in the layer tool box the name of the layer will change to what I typed. I've tried playing with everything, it doesn't have anything to do with the formatting of the text (font size, spacing, color etc) and it isn't hidden behind any layers or anything.
Closing/restarting doesn't work either and it does this on every new/old image I try to open/create. I haven't changed any settings or anything and I can't figure out why it randomly stopped working.
Make sure that it isn't the same color as the background.
Make sure that the opacity or blending mode of the type layer is set to 100% and "normal" respectively.
Make sure that you don't have this as part of a clipping group.
Make sure that it's not part of a layerset that's invisible.
If all of those things are okay, try making a brand new rgb document at 72dpi and typing something with a standard font like Times New Roman and see if the text shows up in that. If it doesn't, something else is wrong, if it does... you need to reexamine the original document closer.