That will work, although preplanning it will make a big difference, because the text insertion point is in the middle of layer… test test test…. Actually, I’m not certain there’s any ‘layer’ beyond the text that you type in, but the DBLCLK Rectangle does create a mask that covers the entire comp area, so I guess it does?
Found an oddity– see attached pic: DBLCLK Rectangle on a Text layer created w/the Text Tool does not create a mask that covers the entire layer, nore even the entire (entered) text: it made a mask the size of the comp, but centered on the text insertion point. There’s logic to the mask placement regarding the text Justification setting, but it’s a little surprising. This one is Left justifed:

–Yeah, the mask seems to always be centered around the insertion point, and is the size of the comp, even if that causes entered text to be cut off. This one is Right justified:

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“Putting the HARM in ‘harmonica’ since 2005.”
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