I've read the tutorials and they all tell em to use the text panel to change text font, color, etc. Only problem is there is no text panel?!
Sounds like you accidentally closed out that panel.
Near the top left of the interface is a button. It looks kind of like either a checkerboard, or a 3x3 matrix of squares--this is the dropdown menu to turn Panels on and off, so check there to make certain that the Text panel is on.
Also remember all Hitfilm's panels and layouts are customizable, so the screen layout shown in tutorials might not be the one you see on your own screen.
Another possibility is that it's off-screen. The row of tabs for Media, Effects, Controls, Text, Tracking, etc. can scroll if the space allocated to it isn't wide enough to show the whole thing. Use the arrow buttons next to the tabs to cycle through them and make sure it's in the list. In the "Editing" view, they're all usually in the lower left corner of your screen although as Triem said, this may vary.
I actually tried both of those things but neither worked.
In case anyone is else is have in this problem, what did eventually work was changing to "classic" menu. Then it popped up.
Is there a way to change the default Text size, color, etc. ?
@OscarUnique unfortunately not, please add this to the wishlist thread