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For that sort of formatting, I would approach the task in Photoshop, Photoshop Elements or Illustrator. They all handle Text/Type much better, and offer many more options.
When complete, just Save_As PSD (in either Photoshop), and Import that into PrE. If you did this in AI, I would Place the AI document into a Photoshop Image, with the dimensions of your Project's Frame Size. As of CS, Ps has included video presets in New Image. Let Ps do the Rasterization from Vector, created by AI.
As of PrE 11, some of the advanced Text/Type handling, has been removed.
Thanks for the follow up.
Looking forward to your results.