When I first started to play grounded I noticed the ability to add text to chests and trail markers when i was the host. my friend was also able to edit them as well when they were not host. Ever since then i haven't played as host and  I have not been able to even hover over the "add text" bar. Nor can i see what someone else has named them as. I play on the xbox series S and my friend plays on the X so there might be something there, idk.

I have same issue. If hosting I can see chest names and change them. If not hosting, can see icon but not names and can't edit name but can change icon and color. We have 40 chests in an area so no names is tough. I recently put a bug report as it seems they had the issue before and fixed it but now broke again.