Thanks JoffM and Jelo!
JoffM's solution seems to work for the time being, keeping in mind Jelo's comments.
So I changed all the email template columns to "mediumtext" in the table "[limeprefix]_surveys_languagesettings".
Everything seems stable enough:
- I'm able to send and receive my lengthy emails
- works fine with 'Placeholder fields' included
- no issues editing email templates
Bug reported :
bugs.limesurvey.org/view.php?id=14021
Curious if it's only MySql that's affected as PostgreSQL doesn't seem to have such a limitation for 'text' columns, that I can find anyway.