The text (I am assuming you brought in a GIF or JPG from your description)
is a bitmap and can't be edited by the Text tool within Fireworks. When you
click on the Text tool, you are initiating the creation of a new Text
object, and that is the behaviour (new empty Text object) that you are
You would have to create the text from scratch using the font that the
original text was in if you wanted to reproduce it.
When you create something in Fireworks, only the PNG file retains editable
text (unless it has been flatten/exported). ...