Hi Matthew,
In this particular case, you can only put strings up to 1MB if you mark that the property is not indexable. (Indexed strings are limited to 1500 bytes -- previously 500 characters). It looks like you are getting this error from a development stub that has not been updated to show the correct length of 1500 -- if you encounter the message about a max length of 500 after updating, please file a bug on the App Engine issue tracker).
I'm not very familiar with go, but I believe you can mark Text as unindexed by writing: