For a general overview of how to use Callouts, click the Tutorial button in the Viewer in Final Cut Pro X.
The Animated Text title effect is not strictly a Callout, and many of the other Callouts include a text component, but in using Callouts, I often found I wanted to add more text, or have text come on-screen at a different time than the Callout. While Final Cut Pro X comes with a large number of titles already, I’ve included a simple animated text title with this collection so you don’t have to go hunting around to find something when you just want some simple text to add to a Callout.
When editing text (by double-clicking), you can also move (but not rotate) the text with the control point…
But doing this will not affect the location of the OSC, so I recommend just using the OSC to move the text.
Everything in the Title tab of the Inspector should be self-explanatory. The text parameters like Font, Size, Color and drop shadow options are repeated in the Text tab and I’ve put them here so you don’t need to jump between tabs – but if you want more options, like changing alignment or adding an outline or glow, then click the Text tab.
Published Parameters continued
By choosing Edit > Special Characters after you have double-clicked the text to edit it, you can add all kinds of interesting symbols available from the Character Palette.