So, after being frustrated by this bug, I searched around and found a solution to the problem. In my current project we use calibri.ttf font. that was working fine up to 4.4. Once i got the update to my nexus 4, All the TextViews with Calibri font were showing "ff" instead of the entire text.
THE FIX - get an .otf (open type font) version of your font, and put in the project, works like a charm. Too bad google didn't inform the developers on this and there's very little documentation on the matter.