3D and Materials is very buggy in Illustrator 30.7
I had no problems using this Effect up until recently, the update from 30.2.1 to 30.7 didn't solve it.
Numbers and cursors are glitchy: text fields cannot be used to input a value in the Y and Z rotation of the 3D Effects window.
3D and Materials applied to text makes the text clip out and loses its outer edges when using Ray Tracing (reproduced with different fonts, always the same issue).
Doesn't make a difference if the text has been outlined or not.
I believe that somehow the Perspective is turned on and stretches the letters or adds spacing value that makes the text fall out of visible area, but since the perspective text field is broken, there is no way to force toggle it to 0.
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@Fab, please share the test file that has this text object with the effect in it, along with the font used. Email it all to sharewithai@adobe.com (and mention the link to this report, https://illustrator.uservoice.com/forums/601447/suggestions/51574307).
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Fab
commented
The solution in the comment on this page could be a possible workaround for people dealing with this - definitely not ideal and hopefully Illustrator teams fix this bug asap.
https://community.adobe.com/questions-652/3d-and-materials-cuts-off-edges-803131
Another way around this involves exporting the asset as a .obj and exporting the inflated text in a 3D app.