Fountain emitters are constantly showing errors in the timeline and are not displaying correctly

This issue is not present in 4.25.4

You can also avoid the problem if the LoopBehavior of the EmitterState is Multiple and LoopDelay is enabled.

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It seems to be a binding of certain parameters and you can work around it by editing the module of the EmitterState as follows.
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1. Create a fountain emitter.
2. View the timeline.