When it comes to text, Photoshop PDF files are not exactly the same as those created by Illustrator or InDesign.
Ensure that you are saving in the first window with layers, then in the second PDF options window, ensure that "Preserve Photoshop Editing Capabilities" is selected.
All that being said, without something like Enfocus PitStop Pro, I personally would not even consider attempting to edit Photoshop text in Acrobat Pro.