Virtual Reality Supported: text shimmering / aliasing in GearVR

I've spent the last 2 days trying to figure this out but have not come up with a conclusion. I'd appreciate if anyone has experienced the same and any thoughts.

Basically, I'm noticing that if I have a scene with text in it (world canvas and UI text component), when I build for GearVR with Unity's VR support, the text aliases like crazy. To be honest I'm not even sure 100% if it is plain old aliasing. The text just constantly shimmers.

1. I tried moving things around in case it was z fighting but it seems it is not.

2. I tried enabling anti aliasing from the quality settings and neither does it seem to make a difference.

3. I tried tweaking the Canvas Scaler Dynamic and Reference pixels/unit settings (which are not entirely clear to me from the docs btw). But at most, I was able to make the text slightly blurry as mentioned in the Unity VR guide and it barely helps.

4. I tried making the canvas and text huge and then scaling the canvas down to 0.05.

5. finally I tried making my text bold and bigger. And that seemed to mitigate the shimmering to a certain extent but not 100%.

But I've seen Unity apps for GearVR that don't exhibit this shimmering issue. So I am wondering what else might I be missing. I'm on 5.3.3.p3 if it makes any difference.