They are used to display relevant information as text in each Phase and Process.
A PID Text Component is usually created with and by AseptSoft, and has a constant location in the PID, and will stay there from one session to another. The text for the editable ones can be always edited, and will update the information it was showing.
To edit any Text Component simply click on it and follow the steps.
To delete any Text Component click on it, close the editor which prompts, and then delete the whole Text object in the PID.