I have a simple aspx file
<%@ Page Language=\"VB\" AutoEventWireup=\"false\" CodeFile=\"test4.aspx.vb\" Inherits=\"test4\" %>
Your TextBox is a server control, and text changed is a server event. It is not meant to be fired each time you type a letter, rather it is fired if the text value is different from the value at the time of the last server post back.
If you need to run some kind of code each time a letter is pressed you will need to register and handle the client-side events OnKeyUp
/ OnKeyDown
/ OnKeyPress
with VB or JavaScripting.