You can switch the tab from Effect or Action to Text tab quickly by double clicking on the text object in the Preview or Timeline window.
You can hide/show this object by checking/unchecking the checkbox next to Name. This is useful to hide a large object temporarily during editing which covers a large movie area so that you can gain access to other objects underneath it.
Name
Each object can have a name. Name is an optional and will only be used for interactivity/action. Eg: An object can show/hide another object by referring to it's name. If you do need to give name to an object, make sure it is unique among other objects within the same scene.
Font settings
At the top of the window you will see the common text settings control such as Font, size, bold, italic, underline, alignment and color.
Transparency
To set the text transparency.
Content
To type in the text content.
Transparency
To set the text transparency.
Shadow
To enable/disable text shadow
To show/hide Transform panel
Transform panel allows you to manually change the object position, rotation and size by typing on the text box.
Reset scale
To reset the scale to 100%
Reset rotation
To reset the rotation to 0
Rotate anticlockwise
To rotate the text 90 degree anticlockwise
Rotate clockwise
To rotate the text 90 degree clockwise