I have been using the the new text styles in Vectorworks 2011 for a short time, but already I love them. Today, I had to teach a Vectorworks user on Vectorworks 2010, and I wanted to use a text style to change the text on the drawing. Of course you can change the font, size and so on with Vectorworks 2010, but it is just is much quicker in Vectorworks 2011.
In Vectorworks 2011, text has a style assignment. So, when you create text you can tell Vectorworks what style each block of text should use.
When you specify a text style, the block of text will always use the settings from the text style. If you edit the text style the block of text will update.
Text styles are resources and can be imported from a library. You can drag and drop a text style from your library to a block of text on the drawing.
Locate the text style in your library.
Drag and drop the text style onto the text object (dimension, plant, hardscape, etc.). The text will then use the setting in the text style. If you edit the text style, all the text in your drawing that uses this text style will update. This will give you global control of all your text in your drawing.
I have posted youtube movie giving you a quick introduction to text styles: