So turns out that text is really text objects that can be edited but you need the Illustrator program to do it . I have Adobe 9 and when I click on the last of the text editing tools - it lets me select the object - then I can right click and say edit object and It will open Illustrator. Then I just save after my text edits and the object is updated in the pdf file with my new edits. (Icon is a pencil in a text box) Touch up text object tool. This may have changed in a later version of Acrobat