After having tech support today (June 5, 2013) flatly tell me the function was discontinued, I did some more sleuthing and discovered this MS "HotFix" for edit wrap problem on the microsoft.com site. It was released by MS on February 12, 2013.
I haven't downloaded or tested it yet. It can be found at http://support.microsoft.com/kb/2760285
Hoping it works -- like so many others, it's critical that I have this function.
If the hotfix doesn't work, fortunately, I did a custom install for 2013 so it wouldn't overwrite my 2010 version of publisher so have both available. If I need to, I'll edit wrap points in 2010 and transfer them over to 2013 and hope that it transfers over
correctly.
As above, it's important to report bug, however, to make sure this problem is fully addressed.
I thankfully only installed 2013 on one of our machines (mine); we still have 2007 on the others. Our organization was on the verge of a major print job, the formatting of which was completely destroyed by this bug. I spent a day panicked, thinking I'd messed
something up...glad to see it's not just me.