Is there a keyboard shortcut or menu option to edit a selected text box in Keynote?

If you open Keynote and click on the Help menu item there is a line that reads Keyboard Shortcuts. Click on this and the following panel will appear.

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in this panel click on the link in the middle of the panel and get this new pane shown below.

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Now if you click on Select Text you get the following selection of shortcuts.

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Maybe the shortcuts you want are under something besides "Select Text" in which case you can try another selection.