In addition to intensity and blur, you also have controls for position. This controls the area of the effect. For shadowing, the size is the same but the window is moved slightly down and to the right. For glow, the window is located at the same position but zoomed in slightly. This makes a copy of the text that is slightly larger and behind the source text which is the source of the "glow". Add blur and intensity and it looks more like a glow.

Now, to get rid of the effect completely, you have to zero both blur and intensity, AND position the window to be exactly the same size as normal(not zoomed in). The easiest way to do this is to use the properties on the left and type the number manually. For example, if you are doing NTSC DV, the resolution is 720x480, so change the height and width to 720 and 480 respectively. This will effectively negate the glow.

For shadow, you need to negate it by changing the location to 0,0 instead of changing the size.

Note that although the glow/shadow is gone, I think it requires render effort along the entire track, so it will have an impact on the render time of long files. If you are only applying glow to a small part of the video, you may want to cut it out to a separate track.

-Jayson