Can't change the font, color, size, text style, or alignment in iMovie 09..

Hi there

Just startet editing an mp4 file. I'm trying to do subtitles, and the only suitable option is the "Lower Third' titling option. According to the Help file "Select the title in the Project Browser, and then click Show Fonts in the viewer. The iMovie Font Panel opens." Well, it doesn't. 'Show Fonts' just disappears....am I missing something?
Thanks in advance.