I just did a quick little test, and it worked for me. After clicking insert, you will see place holder in the box where you are typing your post. After this, you can place text on the outside of your placeholder, then be sure to click "Submit your comment." But it sounds like you already did all that, so try deleting all of your temporary internet files and your cookies. See if that helps. Also, a hard refresh (Ctrl + R) may help as well.
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I went through setting up a board for a post I was going to leave. After I was done and sent it to preview it had the message :
DIAGRAM
NOTE: This graphic is a place holder only etc.
However after I actually posted the message the same board showed up with the same message, not the actual board I designed.
What did I do wrong?