New text effect would benefit from having vertical alignment

[DarrenT]

When adding text using this new effect, it would help my layout if the text could be assigned to be shown at the Top, Middle or Bottom. Another drop down with these options in next to the Horizontal Align would all the UI needs. This is particularly helpful when you use a note column as the text can change from frame to frame, so the alignment is important as you can't pre-determine the position of the text area.

[Jane Eyre]

On a somewhat related note, the background color should really fill the entire box when enabled. Or there could be a padding setting added to the properties.