You have to rotate the text to any angle except 0º, 90º, 180, 270º or 360º and the you can move it out of the image and turn it back to 0º (or any other angle) and you're basically done. But be careful: if you move the out-of-bounds text once it's any of the five angles listed at the start, it'll instantly snap back to inside the frame. (if you use a keyboard you can still move it any direction with the arrow keys)