@wilco-n How about such a script? It reads the Angle values of PIP and converts them into Titles And Text. It can read any Titles And Text presets.

using System;
using System.Drawing;
using System.Windows.Forms;
using System.Collections.Generic;

using ScriptPortal.Vegas;  // "ScriptPortal.Vegas" for Magix Vegas Pro 14 or above, "Sony.Vegas" for Sony Vegas Pro 13 or below

namespace Test_Script
{
    public class Text_Class
    {
        public Vegas myVegas;
        public const string UID_PICTURE_IN_PICTURE = "{Svfx:com.vegascreativesoftware:pictureinpicture}";
        public const string UID_PICTURE_IN_PICTURE_SONY = "{Svfx:com.sonycreativesoftware:pictureinpicture}";
        public const string NAME_PARAMETER = "Angle";
        public const string UID_TITLES_AND_TEXT = "{Svfx:com.vegascreativesoftware:titlesandtext}";
        public const string UID_TITLES_AND_TEXT_SONY = "{Svfx:com.sonycreativesoftware:titlesandtext}";
        public void Main(Vegas vegas)
        {
            myVegas = vegas;
            myVegas.ResumePlaybackOnScriptExit = true;

            if (vegas.Project.Tracks.Count == 0)
            {
                return;
            }

            PlugInNode plugPIP = myVegas.VideoFX.FindChildByUniqueID(UID_PICTURE_IN_PICTURE) ?? myVegas.VideoFX.FindChildByUniqueID(UID_PICTURE_IN_PICTURE_SONY);
            PlugInNode plugTAT = myVegas.Generators.FindChildByUniqueID(UID_TITLES_AND_TEXT) ?? myVegas.Generators.FindChildByUniqueID(UID_TITLES_AND_TEXT_SONY);

            if (plugPIP == null)
            {
                MessageBox.Show("PlugIn \"Picture In Picture\" Not Found!");
                return;
            }

            if (plugTAT == null)
            {
                MessageBox.Show("PlugIn \"Titles & Text\" Not Found!");
                return;
            }

            List<VideoEvent> evs = new List<VideoEvent>();

            foreach (Track myTrack in myVegas.Project.Tracks)
            {
                if (myTrack.IsVideo())
                {
                    foreach (TrackEvent ev in myTrack.Events)
                    {
                        if (ev.Selected)
                        {
                            evs.Add((VideoEvent)ev);
                        }
                    }
                }
            }

            if (evs.Count == 0)
            {
                return;
            }

            EffectPresets efPresets = plugTAT.Presets;
            string[] presets = new string[efPresets.Count];
            for (int i = 0; i < efPresets.Count; i++)
            {
                presets[i] = efPresets[i].Name;
            }

            string presetName = null;
            if (!ShowWindow(presets, out presetName))
            {
                return;
            }

            foreach (VideoEvent ev in evs)
            {
                Track currentTrack = ev.Track;
                foreach (Effect ef in ev.Effects)
                {
                    if (ef.PlugIn.IsOFX && ef.PlugIn.UniqueID == plugPIP.UniqueID)
                    {
                        OFXDoubleParameter para = ef.OFXEffect.FindParameterByName(NAME_PARAMETER) as OFXDoubleParameter;
                        if (para != null && para.IsAnimated)
                        {
                            int trackIndex = currentTrack.Index - 1;
                            VideoTrack trk;
                            if (trackIndex > -1 && myVegas.Project.Tracks[trackIndex].IsVideo())
                            {
                                trk = myVegas.Project.Tracks[trackIndex] as VideoTrack;
                            }
                            else
                            {
                                trackIndex += 1;
                                trk = new VideoTrack(myVegas.Project, trackIndex, null);
                                myVegas.Project.Tracks.Add(trk);
                            }

                            Media m = Media.CreateInstance(myVegas.Project, plugTAT, presetName);
                            m.Generator.Preset = presetName;
                            m.Length = ev.Length;
                            VideoEvent vEv = trk.AddVideoEvent(ev.Start, m.Length);
                            vEv.AddTake(m.GetVideoStreamByIndex(0));

                            if (m.Generator.PlugIn.IsOFX)
                            {
                                OFXStringParameter paraText = m.Generator.OFXEffect.FindParameterByName("Text") as OFXStringParameter;
                                if (paraText != null)
                                {
                                    RichTextBox rtb = new RichTextBox { Rtf = paraText.Value };
                                    paraText.IsAnimated = true;
                                    string lastValue = null;
                                    for (int i = 0; i <= m.Length.FrameCount; i++)
                                    {
                                        Timecode t = Timecode.FromFrames(i);
                                        rtb.Text = para.GetValueAtTime(t).ToString("F0");
                                        if (rtb.Rtf != lastValue)
                                        {
                                            paraText.SetValueAtTime(t, rtb.Rtf);
                                            lastValue = rtb.Rtf;
                                        }
                                    }
                                }
                            }
                        }
                    }
                }
            }
        }

        public bool ShowWindow(string[] presets, out string presetName)
        {
            Form form = new Form
            {
                ShowInTaskbar = false,
                AutoSize = true,
                BackColor = Color.FromArgb(45, 45, 45),
                ForeColor = Color.FromArgb(200, 200, 200),
                Font = new Font("Arial", 9),
                Text = "PIP Angle To Text",
                FormBorderStyle = FormBorderStyle.FixedToolWindow,
                StartPosition = FormStartPosition.CenterScreen,
                AutoSizeMode = AutoSizeMode.GrowAndShrink
            };

            Panel p = new Panel
            {
                AutoSize = true,
                AutoSizeMode = AutoSizeMode.GrowAndShrink
            };
            form.Controls.Add(p);

            TableLayoutPanel l = new TableLayoutPanel
            {
                AutoSize = true,
                AutoSizeMode = AutoSizeMode.GrowAndShrink,
                GrowStyle = TableLayoutPanelGrowStyle.AddRows,
                ColumnCount = 2
            };
            p.Controls.Add(l);

            Label label = new Label
            {
                Margin = new Padding(12, 9, 6, 6),
                Text = "Preset",
                AutoSize = true
            };
            l.Controls.Add(label);

            ComboBox cb = new ComboBox()
            {
                DataSource = presets,
                DropDownStyle = ComboBoxStyle.DropDownList,
                Margin = new Padding(6, 6, 6, 6),
                Dock = DockStyle.Fill
            };
            l.Controls.Add(cb);

            FlowLayoutPanel panel = new FlowLayoutPanel
            {
                AutoSize = true,
                AutoSizeMode = AutoSizeMode.GrowAndShrink,
                Anchor = AnchorStyles.None,
                Font = new Font("Arial", 8)
            };
            l.Controls.Add(panel);
            l.SetColumnSpan(panel, 2);

            Button ok = new Button
            {
                Text = "OK",
                DialogResult = DialogResult.OK
            };
            panel.Controls.Add(ok);
            form.AcceptButton = ok;

            Button cancel = new Button
            {
                Text = "Cancel",
                DialogResult = DialogResult.Cancel
            };
            panel.Controls.Add(cancel);
            form.CancelButton = cancel;

            DialogResult result = form.ShowDialog(myVegas.MainWindow);
            presetName = cb.SelectedItem.ToString();
            return result == DialogResult.OK;
        }
    }
}

public class EntryPoint
{
    public void FromVegas(Vegas vegas)
    //public void FromVegas(Vegas vegas, String scriptFile, XmlDocument scriptSettings, ScriptArgs args)
    {
        Test_Script.Text_Class test = new Test_Script.Text_Class();
        test.Main(vegas);
    }
}