import os, arcpy, arcpy.mapping
    oldText = arcpy.GetParameterAsText(0)
    newText = arcpy.GetParameterAsText(1)
    pdf = arcpy.GetParameterAsText(2)
    mxd=arcpy.mapping.MapDocument("Current")
    
    # Loop through each text element in the map document
    for textElement in arcpy.mapping.ListLayoutElements(mxd, "TEXT_ELEMENT"):
        
        # Check if the text element contains the out of date text
        if textElement.text == oldText:
         
     # If out of date text is found, replace it with the new text
            textElement.text = '<FNT name="Arial">' + newText + '</FNT>'
    
    #while PDF = 1:
    # Export the updated map to a PDF
    #path = r'P:\2011\Job_031_TownPlanning_SeriesProduction\Working\draft_output\esri\2\wetland\'
    #arcpy.mapping.ExportToPDF(mxd, newText + "-TownPlanning_Wetlands_Overlay_Ver2.pdf")
    
    #arcpy.mapping.ExportToJPEG(mxd, outFile)
    #outFile = newText + df.name + ".pdf"
    
    # Clean up the MapDocument object by deleting it
    del mxd
     
    arcpy.RefreshActiveView()
    arcpy.RefreshTOC()
import os, arcpy, arcpy.mapping
oldText = arcpy.GetParameterAsText(0)
newText = arcpy.GetParameterAsText(1)
PDF = arcpy.GetParameterAsText(2)
mxd=arcpy.mapping.MapDocument("Current")
OldFont='<FNT name="Vivaldi"'
NewFont='<FNT name="Arial"'
# Loop through each text element in the map document
for textElement in arcpy.mapping.ListLayoutElements(mxd,"TEXT_ELEMENT"):
    #Check if the text element contains the out of date text
    if str(oldText) in str(textElement.text):
        #If out of date text is found, replace it with the new text
        Text=str (textElement.text)
        Text=Text.replace(OldFont,NewFont)
        Text=Text.replace(oldText,newText)
        textElement.text=str(Text)    
        if PDF == "1":
            #Export the updated map to a PDF
            path = 'C:\Project'
            arcpy.mapping.ExportToPDF(mxd, path + "/TownPlanning_Wetlands_Overlay_Ver2.pdf")
             
#Clean up the MapDocument object by deleting it
del mxd
arcpy.RefreshActiveView()
arcpy.RefreshTOC()
					
				
			
			
				
			
			
				
			
			
			
			
			
			
		>>> mxd_r=r'P:\2011\Job_031_TownPlanning_SeriesProduction\Working\mxd\B&L\2\1-7_TownPlanning_B&L.mxd'
>>> mxd_current=arcpy.mapping.MapDocument("Current")
>>> mxd_root=arcpy.mapping.MapDocument(mxdr)
>>> Textelm_root=arcpy.mapping.ListLayoutElements(mxd_root,"TEXT_ELEMENT")
>>> Textelm_current=arcpy.mapping.ListLayoutElements(mxd_current,"TEXT_ELEMENT")
>>> Textelm_current
[<TextElement object at 0x203f1430[0x203b6fa0]>, <TextElement object at 0x203f12f0[0x203b6d40]>, <TextElement object at 0x203f1450[0x203f1380]>, <TextElement object at 0x203a5310[0x203f13a0]>, <TextElement object at 0x203f14b0[0x203f1260]>, <TextElement object at 0x203f14f0[0x203f1060]>, <TextElement object at 0x203f1510[0x203f13c0]>]
>>> Textelm_root
[<TextElement object at 0x203f1250[0x203f10e0]>, <TextElement object at 0x203a5090[0x203f11c0]>, <TextElement object at 0x203f1050[0x203f10c0]>, <TextElement object at 0x203f1150[0x203f1180]>, <TextElement object at 0x203f12b0[0x203f11a0]>, <TextElement object at 0x203f12d0[0x203f11e0]>]
>>> Textelm_current[1]=Textelm_root[1]
>>> arcpy.RefreshActiveView()
mxd=arcpy.mapping.MapDocument("Current")
    
# Loop through each text element in the map document
for textElement in arcpy.mapping.ListLayoutElements(mxd, "TEXT_ELEMENT"):
    # Finds the right textelement 
     if textElement.name == "Text_Element1":
     #Replaces the old text by new
        textElement.text = '<FNT name="Arial" size = "10">' + "My New text" + '</FNT>' #plus whatever other HTML font style specification u did  
     elif textElement.name == "Text_Element1":
      textElement.text = '<FNT name="Aria2" size = "12">' + "My New text2" + '</FNT>'
     elif textElement.name == "Text_Element3":
      textElement.text = '<FNT name="Arial" size = "12">' + "My New text3" + '</FNT>'
    #etc.....
del mxd