You can edit your video using text by simply adjusting the transcribed portion of the audio on the editing page. For example, to replace a portion of the video with another video portion, you simply need to move the transcribed text to the spot you want it. You can do this by doing the following:
Step 1: On the editing page, highlight the part of the video you want to move to another portion and cut it (using the shortcut key Ctrl + X).
Step 2: Bring your cursor to the spot you want to move the text you just cut and press the shortcut key Ctrl + V to paste it.