I register my fonts once they are loaded. In my head I should be able to use them once they are. But I wasn't so I tweaked my code, here it is but it still makes the text invisible. As soon as I do embedFonts = false, it starts working again.
trace(Font.enumerateFonts()); // Returns an array and does show my Fonts embedded.
var format:TextFormat = new TextFormat();
var fontClass:Class = _model.getFont("HappyHell"); // Does return the Class
var myFont:Font = new fontClass(); // Works
format.font = myFont.fontName;
format.size = 15;
format.letterSpacing = 0.8;
var test:TextField = new TextField();
test.embedFonts = true;
test.defaultTextFormat = format;
test.text = "TESTING everything 13216";
test.x = 30;
test.y = 30;
addChild(test);