It currently takes two attempts to clear the default text from a Text Block widget. The first time you try, the property will repopulate with the previous string.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-43146 in the post.
| 0 | 
| Component | UE - Editor - UI Systems | 
|---|---|
| Affects Versions | 4.14, 4.15, 4.16 | 
| Target Fix | 4.16 | 
| Fix Commit | 3356468 | 
|---|---|
| Main Commit | 3379345 | 
| Created | Mar 21, 2017 | 
|---|---|
| Resolved | Mar 22, 2017 | 
| Updated | Apr 27, 2018 | 
| 3400 - projectgheist |