Problem with the Type Tool

Are you sure that:
(a) A text layer is present and selected (red box around text)
(b) The text caret is inserted (vertical red line (or a red highlight) inside the red box)
(c) The Program Mon (not the timeline) is in focus when you type (blue outline around PgM panel)
?

This screenshot should help:

You need to click with the mouse on the Program Monitor first before start to type.

Someone said that you can switch off Selection Follows Playhead under the Sequence Tab. Still doesn't work.

I tried to reconfigure the Keyboard Shortcuts to default to Timeline. Doesn't work either; the keystrokes still make the cursor playback on the Program Monitor. 

I also would not like to reset the settings using Ctrl + Alt when starting up the program. This just seems like a major glitch to me. 

What you see are the keyboard shortcuts - L key plays the clip forward, K key is used to pause the clip, and the J key is used to play the clip backward.

After you select the Text tool, are you sure you have clicked in the Program Monitor?

Stan