There doesn't seem to be a definitive answer on the net, so I had a look at the code for TextLayoutCache.cpp. Looks fine to me. It's caching text layout data to improve performance, and there's currently a fixed default cache size of 0.5MB defined in TextLayoutCache.h.
So if you're changing layout text to a fixed set of values (<0.5MB), you won't see the log message.
If you change text to dynamic values then eventually the cache will fill and the LRU (least recently used) cache entry is deleted, and you'll see the log message. It's just a debug message, not an error, not a leak. It's a useful performance metric about how Android internals are handling our App.
Note that TextLayoutCache isn't used in Android versions >= 5.
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