First, please read this post and give us all the information requested there. It really does make it much easier for we fellow-users to advise you.
First, I see you say your version of Photostory Deluxe is 16.1.1.46. That is really quite "old" now, the current latest is 18.1.2.42, so I have no idea whether this method of achieving what you want to do is possible in your version or not!
With PS open and the project from which you wish to copy the text track on the timeline, click the + sign shown on this screenshot:
This will open a new timeline, without closing your first one. If your second project has already been created, open it now in this new timeline. Then, simply copy and paste the text track from your original project to your new one. (Switching the view between the two projects is as simple as clicking on the tab which shows the name of the project you wish to work with.)