You can find all the draft projects you have created in My videos folder. Video can be edited as much as you like, while it is in Drafts section.
To open and edit your draft, move the arrow on the project and hit Edit. Then hit Customize on the next page.
All downloaded videos are stored in Published tab. You can redownload these videos as many times as you like. Once the video is downloaded, you can revise the text up to 5 times.