flip a text box, like we do with other drawing objects?For the same reason you'd use them in an earlier version? To let text flow
"jump around" in a document.
And no, you can't rotate text freely, only by 90 or 270 degrees. This has
to do with how Word renders fonts. If you turn the text box into a static,
graphical picture, then it can be rotated (and you'll see how the text
display changes).