Thanks for spending some time with me Scott,
For anyone that was curious, we found that this was due to the amount of text going into his Marketing>Template paragraph snippet. The email we were working with contained a wealth of information, and needed to be split into multiple paragraph snippets.
The database truncation error can occur when a single paragraph snippet is overloaded with text. Breaking longer emails into multiple paragraph snippets will avoid this error.
Also note that larger emails can take a moment to save, but no truncation errors should be presented.