Custom fields not saving for contribution record and displaying extraneous output for participant record

This seems like a recent regression - but not sure.

1. Contribution custom fields:
1.1 CREATE: If you set a values for both sample custom contribution fields when adding a contribution, they get saved but when viewing the contribution, 'String' appears next to the radio button label.
1.2 UPDATE: If you set values for these fields when updating a contribution, the values are NOT saved. The row is inserted in civicrm_value_donor_information - but columns are empty.

2. Participant custom fields:
2.1 CREATE and UPDATE: Value gets set for the radio button, but again we display 'String' in a addtion to radio button label in Participant View.