Can't See Editor Background

In your "Song Lyrics Editor" tutorial video, the screen shows Editor Background options. But the free WE Presenter product i recently downloaded does not. Is this a paid-only feature? Am i missing something? It's difficult to select text colors without seeing them against the background. I've had to go back in and edit several times and not enjoying the process. Please help! Thanks :-)

Under Settings > Interface you can set the editor background.

I see options there to choose between black and transparent pattern, but your video referenced above has the third option of seeing my selected media background in the foreground formatting tab. Is this feature still available?

No, that was removed a few versions ago.