I stumbled on this again today in checking out a kepub, and apparently it's not just the Kobo Nickel font. Here's an image with Caecelia font, and it seems to happen only with kepubs. I can't remember seeing it in an epub where the page will appear this way when go you reopen the book, but not all pages, I really don't know why some and not all pages. Once you turn the page, the chopped off text goes back to normal, even if you back up to the previous chopped page, that will display correctly.
Edit: I'm on firmware 2.5.1 btw.
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