The pink highlighting is indicating that you still do not have the correct font loaded. As far as the text being above the box is concerned, it may be related to the same issue, or there may be a baseline shift applied to the text. When you select the text, does your selection highlighting appear on the characters, or below them? If it is below, then that usually means that a baseline shift is applied to the text. Another possibility is that you might have baseline options applied to your text frame. Check the offset in Baseline Options in Text Frame Options.
How to I get rid of the pound sign…
At the bottom of the Type menu, you will find Show Hidden Characters (the shortcut is Option Command i). The # is the hidden character that tells you that you have reached the end of the text string in a given text frame. It doesn't print, and it is completely normal to see that in a text frame that doesn't chain to a following text frame.
Do you mean, that the # sign is behind the text, staying at the same place, even if you write above all a new text frame?
That means that you have a text frame on the master. Why? Normally it is not useable to us master text frames except primary text frames.
If you want to use it, you have to override this text frame by clicking command shift and clicking on this text frame, then you can use it on the page, but be aware that you should not apply this master or another master with a text frame to the same page.
If you use primary text frames on the master you need only to click inside the text frame and write or place your text.
If you only don't want to see the # sign, go to type and hide nonprinting characters.
The other thing, the pink marking indicates that you don#t have the font in that style installed, missing glyphs indicator.
Or do you mean that the problem is that your text is on the frame, not in the frame? Did you choose text on a path instead of the normal text tool?
@dkg62 – to make clear what's going on, select the text frame and show us another screenshot.
There are at least four cases where you can get a text like that. All cases imply, that the font you'd like to use is missing. I simulated this by formatting text with a font weight that is not available by a character style.
1. The most likely case: There is baseline shift applied; here in my case 9pt.
All other cases are academical, because the pink highlighting is aligned with the text:
2. Text frame options, baseline set to a fixed value (zero in this case)
3. Text on path and the text frame options (baseline) is just the standard default. You can see a second #-end of story sign inside the text frame.
4. Text on path and the text frame options (baseline) is set to fixed (zero in this case). The second #-sign inside the text frame is shifted above because of the fixed value of the baseline option of the text frame options. And obscured by the pink highlighting.