Does Google still need text to understand my site?

I have removed a lot of text from my site and replaced it with images. My bounce rate has dropped considerably, conversions and time on site are up. Will Google have an issue with the lack of textual content on the site? Does Google still need text?
Danielroofer (aka Daniel Weadley), Camberley, Surrey, UK

Google Web Fonts:
http://www.google.com/webfonts

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