So, support had me do a clean install - uninstall from Programs, delete C:\ProgramData\NCH Software (which I didn't have before the uninstall and got back after the uninstall), delete C:\Users\(Your computer profile)\AppData\Roaming\NCH Software\VideoPad then reinstall and re-register. Position is now available (for the moment) and I can click in the Clip Preview on the text I want to move and get the dashed line around it and can move it around. So, we'll see how long this lasts, but my suggestion would be to do a clean install if you're experiencing the above symptoms.