No it does not disappear.
WordPress does not change the product category display, when changing between visual/raw mode, like it changes while editing the posts and the pages.
The page looks like this (I hope the imageno works):
https://www.imageno.com/abjymgifm7xrpic.html
There are some categories, in the product category index (shop root), which are broken. But just in the index. If one clicks the category title (and enters to category) the titles (and translations) are working fine.
Perhaps these are two different problems, only manifesting prettty same way?