I've tried that, but run into two problems. First one is that none of the products show up in the Phrase Manager drop down menu. The other is, I can search, as you suggested, but none of the phrases are editable, for the same reason as I mentioned in the first post; no place to edit the text.
Another problem is the Phrases of the modifications that I want to edit don't show up at all. For example, vBcredits has an area called Transaction Alert PM Sender ID.
Click one of those links and the Phrase manager opens to the exact phrase. But it opens like this. The "Text" region is not an editable region, like it is when I make a Custom Phrase. In addition, I can't access any of those Phrases in the Phrase Manager directly, not even when searching.
Hrm, you know. I've never had to edit any of our exiting phrases before. But looking at it now, I can't edit any Phrases that aren't custom. They all open like the picture here.