How can I edit the verbage

I am not quite sure what you meant by "verbage", could you please provide us more information? The screenshot you have added did not went through your post. 

Could you please try attaching the screenshot again. Please do make sure to visit this thread using this link: http://www.jotform.com/answers/795208, and use the upload image button on the text editor in our reply area.

We'll wait for your response.

There is a cross cursor that doesn't allow me to double click to edit text. 

We are unable to edit the text, both across the top from the template and the text in the column I input. 

We are unable to edit the text, both across the top from the template and the text in the column I input. 

I presume you are referring to the matrix field in your form titled "PEER DAY Format Survey"? You can edit the label by double clicking it. 

Here's a screencast on how to edit the label text:

To edit the text in your columns and rows, just find the "Rows" and "Columns" in your matrix field settings.

If a a cross in the mouse cursor appears, just continue on hovering on the text and double click it. Let us know if that works.