Is there a way to change the preferences for the TypeTool? For example, when using it to create a frame, can I set it so that the vertical justification is center instead of top? At present I have to use command B to bring up a panel to make that change. CS4 on a Mac.
Edit eh [Basic Text Frame] object style.
You're not talking about preferences for the Type tool. That would be for character or paragraph formatting. You're talking about preferences for a type frame.
You should create an Object Style (Window > Styles > Object Styles) that creates a frame the way you like and apply it as an object style.