It looks like you have Track Motion enabled for that track (and for the one below it as well).

Look in the track headers at the lower left. See the diamond shape? (To the upper left of where the 2nd track says "Video Overlay".) Click on it and it will expand a little, mini-timeline below your "Text" track to show you where you have Track Motion keyframes for that track. (The extra little gap you have between tracks is another clue that Track Motion is enabled.)

Track motion is a feature that lets you resize and reposition the track -- like to create a Picture-in-Picture type of effect, or to have a shrunken down version of a video or picture that slides across the screen.

If you have track motion enabled by accident and want to get rid of it, right click and "Delete" all the keyframes except the first one, then double click the first one to bring up the Track Motion window, right-click in the middle of the grid, and select "Restore Box" (note: "Box", not "Restore View"). This will set the sole remaining keyframe to full size and normal position, which effectively disables the Track Motion feature.

If you actually want Track Motion for other items on that track, you simply need to reset it to the "normal" size and position before your text event. Double-click on the mini-timeline just before your text event to add a new keyframe. Double-click that new keyframe. In the Track Motion window, right-click and select "Restore Box". This will reset the track motion settings to return the track to full size and normal position before your text event starts.

Tim L