Answering my own question - THE CULPRIT IS NERO !
If you ever encounter this problem of writing CD Text with more than 79min59sec audio, than
File -> Options -> Various, and UNCHECK "Check Media Type before writing"
I don't remember when (not so long ago) and where, and in which context I stumbled across this hint -
BUT IT DOES WORK !
Shows the fact that even (the guys at ) NERO (Techsupport) don't know well their own software, or that they are playing the chicken game (blaming the hardware for their own faults).