Now that version 8 has been released, I've given this a try.
It looks as though nothing has changed though. Using Simon's suggestion
- the requirement gets created and the highlighted text is displayed as the title of the element (but that's not too helpful with a paragraph of text)
- the text gets buried in the tagged values, I can just about see it, but I can't find a way to edit it
- when the properties dialogue is brought up the title/short description is the default e.g. "Requirement3) and the notes field is blank
For me, while I understand the argument for full traceability and integration with source documents, this current functionality is so close to being what I would like right now, but at the same time so far away, that it is very frustrating !