ArcText > Uneditable?

Hello

I've searched a bit for this answer, and spent a long while trying to find it
for myself.  Like most all text properties in AutoCAD, they can be fully edited
after they have been created...

However, ArcText seems to be set after it has been created.  I can change
dimensions of the text, but i cannot edit the text itself?  This seems like a
bad design, and doesn't make any sense.  It seems like it should be a natural
thing to include, but was forgotten...

If there is a way to edit the text of an Arctext object once its been
established, please let me know.  If i am not making sense, please also let me
know!