Normally you just use Enter to commit a text layer. Command Return (or Control Return on Windows) is only there for keyboards that don't have an Enter key (such as laptops that mislabel the return key and don't have a numeric keypad).
Definitely would like to be able to add a shortcut for this as well, there seems to be no good way of entering text editing mode other than double clicking a text layers icon correct?
With a text layer selected (command-return) as a toggle would be fantastic. The use case is pretty straight forward I think, any time working with multiple text items, this would make it much faster.
And return to edit the layer name text would be very helpful as well.
Need this! You can navigate layers using only the keyboard, and exit editing mode via the keyboard, so adding a keyboard shortcut for entering text editing mode on the selected later would allow you to quickly edit text layers without the need to go back and forth to the mouse.