I may have approached this wrong, so feel free to correct me. I imported my video, then wanted to add a "slide" in front of it with text that fades in and out. So I moved the video back a few seconds until there was a black screen and typed in my text. I created the fade with key frames. It shows properly that it starts with 0% opacity and changes to 100% at the next keyframe. Yet I'm not seeing the text fade in and out. So where am I going wrong? I'm sure it's pretty simple. Here's the screen cap:
You are fading your video, not the text, but obviously you won't see any changes because you moved your video out of the way. I would strongly recommend you watch some basic tutorials how AE works.
Mylenium is right; you've done your opacity fade to the video layer and not your text layer.