First off, do you remember of you got an error about text when you opened the file? If not, double check the font files - make sure they still work. Lastly, is the text layer still showing as a text layer or is it rasterized? Also, simple one, but is the layer locked? Last (should have been first) what version of ps are you using?
Jonathan Ziegler
http://www.electrictiger.com/
520-360-8293