Variant data is persisted to the dataNvarchar column in Umbraco 7.15, which is capped at 500 characters. Also, the JSON is not minified (unsure if this is just a debug/release issue), which leads to a ridiculous amount of whitespace, as per https://our.umbraco.com/packages/website-utilities/tea-commerce/tea-commerce-support/99189-bug-in-data-truncation-on-cmspropertydata.
PR incoming shortly.