Did your template come with any instructions, information or read me files? In the material in the template folder are there any .txt files or .xml files? Either of these may contain the text that you want to edit. The text may also be static textfields that are part of the Flash movie itself.
Templates are very difficult to provide help for on a forum. We don't have a copy of the template. Your best source of information is the template content itself and the company that you purchased the template from.
Err.. I designed an interface (Buttons, thumbnails and all), and imported it into Flash Professional; the thing is I don't know how to give instance names to the buttons, thumbnails,' etc. Flash is taking the psd file as a bitmap. Kinda new to Flash Professional, and I need help on what to do here. Would've done it in Flash Catalyst, but CS6 Creative Suite doesn't have Flash catalyst. I want to build an image Gallery.
Instance names are the reference names that you give to the individual items on the stage. Only movieClip and button symbols can have instance names.
When you import a photoshop file to Flash you will get individual bitmap objects on the stage and in a folder in the movie's Library. You will need to select each item, one at a time, on the stage and convert each one to a symbol. When you make that conversion the name that you give to that new movieClip or button is the name that you will see in the Library.
When you select that new symbol on the stage, look at the Properties window. You will now see a space at the top where you can give that item an instance name. The instance name is what you will use in Actionscript to control that object on the stage.
When you look in the movie's Library, you will see the original bitmap and the symbol that you created that contains that bitmap.
Does that help?