I am encountering a strange problem. i cannot move the text any ways---either up or down or sideways through the size/position option (under movement).
That looks like one of the preset titles with a grey background - you have to ungroup the text and the background image before you can move them and they have to be moved seperately.
I have tried as hard as I can to duplicate this problem and cannot do it. John is right, if the two titles are not grouped to anything, you should be able to move either or both. Have you tried saving and re-starting MEP, or a full reboot?