The VBA documentation for the "IsViewIndepenent" property states that only Text Elements support setting view independence, not the complex text node header. If you set the component elements to be view independent and rewrite the elements you should get the correct results. Here is a snip of the help for convenience:
IsViewIndependent of TextElement is read/write. IsViewIndependent of TextNodeElement is read-only.
A text element that is view-independent displays at its angle of placement regardless of how the view is rotated.
View-independent text is considered not to be planar.
HTH,
Bob