PS7 help

ok, I'm having a problem with the text tool. On my icon, no matter what size or font I use, the text keeps appearing as if its on size 1. In the picture below of my screen, you can see that the text is on size 72 and its extremely small. Whats even wierder is that when when I went to file->new and made a blank screen and then wrote on it, it worked fine. Its only messed up on this one icon I'm working on >__<

Click here for pic of whats messed up
Thank you for any help