You should only use "Allow latin text to break in the middle of a word" IF you are working in a language where it might make sense (eg Japanese).
Are you sure you understand the limits of text in a shape. If you have eg an oval bubble the text will never reach the sides but live in a rectangle within the shape. You cannot see this rectangle nbut to get an idea of the limits add a single letter and left align to guess the left limit and then right align to see the right limit.
Bottom line there is less space than you might imagine. I don't think you can preview the text boundaries in PPT but you can see them in Word.
Make sure Show Text Boundaries is ticked in options > advanced and add a speech bubble.
Using the Japanese option may seem to help but the rules of Japanese layout are complex and unlikely to make sense.
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