Though I have not tested it specifically with 7.9.5, the following script works fine in both 7.9.4 and VX:
Sub Cmd_testClick(sender AsObject, e As EventArgs)
Dim list AsNew ArrayList
Dim block As ViewDraw.Block
Dim comp As ViewDraw.Component
Dim tmp AsString
Dim x, y AsLong
list.Clear
list.Add("1st line")
list.Add("2nd line")
list.Add("3rd line")
list.Add("4th line")
view = app.ActiveView
comps = view.Query(128, 1)
ForEach comp In comps
x = comp.GetLocation.X
y = comp.GetLocation.Y
block = comp.SymbolBlock
ForEach tmp In list
block.AddText(tmp, x, y)
y = y - 10
Next
Next
EndSub
The only thing I can see in your code that causes an error for me is the lack of parentheses in the AddText command. That may not matter if you are using vbscript or the EFM scripting, but it does in vb.net.
I hope this helps you.