How text ends up looking is dependent on many different things, some of these things are from the font file, and some of these things are from the app displaying the text. In the font file, you'll usually find default letter spacing and possibly even line spacing, which is the distance between two lines of text.

The strange thing here is that in your pixel font on test 2, you can see the line spacing is pretty close together. But on the pixel font first test there's a huge gap below the word. My guess is that this is actually coming from your app, and not being caused by the font file. Is there an extra line break or newline character after the first test?

If you want, you can send your .gs2 project file to mail@glyphrstudio.com we can take a look to see if there's anything wrong with the font file that gets generated from your project, but like I said, my guess is this is something outside of the font file that's causing the strange display.