The transparency of the text can be adjusted using the opacity option.
Select the text on the template.
Click the Opacity icon in the editor toolbar above the template. A drop down with a gray dot will appear.
Click, hold and drag the red dot to the left for lighter text, and to the right for darker text.
The Opacity icon in the editor toolbar will look like this:
The Opacity icon can also be used for Illustrations, Graphics, Free Photos and your Uploads.