If for Video Deluxe, if this is an upgrade, then you probably already have everything installed and you don't have to do it again. In fact, you can't. Look at the screen to see if it says that everything is installed.
To get the extra content, go to the Help menu than choose "Install Extra Content".
Click Yes to the Installations Manager prompt, wait for a few seconds then a box will appear with all the extra content. Do you see that? It looks like this:
Regarding your text colours, I doubt that the (lack of) extra content is causing that. You can change the text colour in the text dialogue box.
As far as effects go, generally, you must click on the object you want to apply the effect to, then choose the effect from the Effects tab.