Is it bad practice to use "Lorem Ipsum" example text in a text-preferences screen?

I'm the developer of an application where text plays a major role in the user interface. Users can adjust the style of the text in a preference screen. I have added an example text to the preference screen to make it easier for users to see what changing a preference actually results in.

Is it bad to show users a "Lorem Ipsum" style example text in the text-preferences screen?

Do users understand what Lorem Ipsum is? Or will it confuse users?

Using "Lorem Ipsum" seems like a good solution because I don't need to create localized (translated) dummy text for each language the app is available in. Or should I just show real sections of the text the users will possibly view? The last has the disadvantage that loading these texts or parts of it are pretty heavy operations.

Edit:

In my specific case I need to show at least a title with a paragraph of two or more lines. Because not only font size and style can be adjusted but also line spacing and other more advanced and less trivial options.

The people using the application can literally be any one.

The mobile application is at the moment only targeting Latin style languages but we are working on Arabic too.