Rounding Text in PSE

So, I'm trying to make a new type of YouTube background (thank you Miranda for the lovely template!), and for this, I have an arrow brush. The arrow rounds a bit after a straight portion, and on the straight portion, I'm setting the "Featured Video" text. However, the straight part before it curves is a little small, and instead of making the text smaller, I'd like to curve the text with the arrow. Only thing is, I can't figure out how do it in PSE. And it's driving me crazy! I found a tutorial somewhere on google, but the author says something about checking the "Asian Tools" preference or something, and after following those steps, I don't even HAVE that option, which is strange, because she was using PSE7 and I have PSE8...

My brother said there was a way to move the center of the text which you can manip the text around, but we can't seem to figure out how to do it right now. Help? ^^;;