Here is the Acrobat X Pro. Help page that details the editing tools that are available. Also, here is a Quick Tip that explains how to edit text in a PDF.
Go back to the original WORD file. Select the printer in FILE>Print to be the Adobe PDF printer and return to the document. Now rearrange the document to be on one page. What you are seeing is the reflow done by WORD when you change printers. WORD reflows a document based on the properties of the attached printer. This reflow is an issue with folks using forms in WORD that typically look different on different computers (that have different default printers).
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