I’ve just recently (partially) brought myself up to speed on LiveType and went out and bought CREATIVE TITLING WITH FINAL CUT PRO by Diannah Morgan which does cover the app. It isn’t super great, but it’s enough to get you started.
Actually, I’ve learned a lot by just playing around with LT…as you might have guessed, it’s as intuitive as FCP…to extend a static title with a “regular” font, just grab the end of the title clip with the mouse and drag it. You’ll notice that effects show up underneath as purple clips and you can drag the effects to affect different portions of the font clip as well as changing the duration of the effect by dragging the ends. So-called Live Fonts are in fact small animation movies and you don’t have as much control over them, but you can add effects to them as well.