I also think that the original file was not created for changing the text, it was for adding a logo. The "Black and Gold" was supposed to be a logo and not editable text.
When you double click the SO, your supposed to turn off the existing "logo" and add your own.
I used Eggy's technique to change the text, and created a group. Open the SO, in the group just turn off the old text layer and add a new text layer. Position within the box................or you can turn off the box as well.
View attachment 92055
You can also just turn off the group and add your logo.
Close and save the SO (PSB file).
View attachment 92056