Okay, let me explain myself:
First, I assumed the drawing is external. I want to spare you having to try and rebuild the old one if this idea doesn't work. Open the raw drawing file. Not the block. The actual drawing file the block originates from. Wblock out to another drawing the contents of the drawing, selecting all objects minus attributed text. Then, in order you want to be prompted, select the attribute text. At whatever point you get a dialog asking you for things like name and folder, place it in the same folder under a different name. Close out the drawing you're in and rename it to something like origdwgname.dwg.old. Next, rename the new drawing to the actual name of the old drawing. Open the drawing you want to insert it into and insert it. You must redefine the block if it already exists in the drawing. If there are any adverse effects, that is what the .old drawing is for. Just delete the new, rename the .old back and reinsert it, redifining it once again. Then come back and tell us what happened that was wrong. My guess is it would be the insbase variable was set wrong on the new one, but we'll wait on that.