Depending on how you're calculating the offset, this may also have problems with things like diacritics and non-Latin text, which may be taller (e.g Thai).
This isn't an inherent problem of the technique though. You should be giving things enough space so that this kind of thing doesn't happen. It should be pretty simple to check that the smallest unit of space used anywhere isn't smaller than the amount being trimmed from the top/bottom of the text box.
Here's an editable interface from that talk: https://seek-oss.github.io/braid-design-system/playroom/#?co...
You can see the issues when we write Hello World in Thai: https://i.imgur.com/MaHfPr3.png
It might be worth doing that, but note that there is still no guarantee of any reasonable upper bound on the vertical dimensions text will render within. Zalgo text is a famous example that very clearly illustrates this state of affairs [0]. The fact is that no current web design can guarantee that no text glyphs will overlap, short of using some non-standard font that prevents it, or perhaps by greatly restricting the usable Unicode characters.