You can place a feature request here to suggest such a feature to Adobe.
They have supplied the feature in reverse quite recently: you can now create text layers in After Effects comps that are editable within Premiere.
In the meantime, I'd suggest always creating your text in Photoshop. There's a lot more versatility, and when you move your Premiere project to After Effects you retain all the editability that you have in Photoshop itself.
Thanks for your response Andrew.
making my text layers in a separate program? no thank you. the reverse is possible? (ae text to pr) good lord why?!?!?! (I don't get that as I would never work that way but I'm overjoyed for those that do)
I don't like the idea of having an extra program in the loop, it's just convoluted, if I was placing the text specifically around images in Pr, then I would have to send the image over to Ps too just to achieve the same layout - more work than neccessary! Most of the time I do most of my Ps tasks in Ae anyway because I'm just faster in Ae.
In truth I'm not even a fan of my edit and my graphics being in separate packages. I'm running into a lot of video edit issues in Ae nowadays. The idea that you're your're script or picture locked before you get into animation is redundant. I want all my edit flexibility in Ae ideally but the dynamic link stuff - if you use a few sneaky workarounds basically works well.
If I could have my wish...I want a program that is my edit, graphics/compositing/paint and also 3d all in one. Because I'm a ninja and I can deal. Wanted this for the last 10 years. Still waiting. I should just probably learn to use a Smoke...
I'll bet you're not aware that NEITHER After Effects NOR Premiere were initially developed by Adobe. Adobe bought them. Two different companies created them... with all sorts of different notions of how video, audio and such should work together. Consequently, the code between the two is extremely different. They weren't designed to play nicely together, and the fact that they work together AT ALL says something about the skills of Adobe software engineers.
Knowing that won't solve your current problem, but at least now you know that the guys at Adove aren't blowing off an obvious flaw.
The text rendering engines for PPro and AE are completely different animals. I would look for better integration in the future because this is a common feature request. It just takes time to do the engineering.