I take it you're not using version 6 then? There is one down and dirty way to handle this, if you're not concerned about the space left on the page, etc. In the control to expand, do this in the OnRead method:
If Len(me.DataValue) > 36 Then
'The Length will vary depending on the text font, etc.
gGrowControl = TRUE
'gGrowControl is global boolean variable
End If
If gGrowControl Then
ME.size.height = 605 ' .42 * 1440 twips per inch
End If
Also, in the Frame containing the control, you can, if needed, increase its height as well; in the AdjustSize method:
If gGrowControl Then
size.height = 605 ' .42 * 1440 twips per inch
End If
Actuate uses twips for determining the height of controls, not pixels.