Check Metrics.ini, lines 581 to 590.
# player options
PlayerOptionsP1X=SCREEN_LEFT+8
PlayerOptionsP1Y=SCREEN_BOTTOM-48
PlayerOptionsP1OnCommand=zoom,0.5;halign,0;shadowlength,1;strokecolor,color("#00000000")
PlayerOptionsP1OffCommand=bouncebegin,0.45;y,SCREEN_BOTTOM+16
PlayerOptionsP2X=SCREEN_RIGHT-8
PlayerOptionsP2Y=SCREEN_BOTTOM-48
PlayerOptionsP2OnCommand=zoom,0.5;halign,1;shadowlength,1;strokecolor,color("#00000000")
PlayerOptionsP2OffCommand=bouncebegin,0.45;y,SCREEN_BOTTOM+16
To move the text, experiment with the X and Y values. To shrink the text, change the zoom value to be something less than 0.5.
You could also try leaving those alone, and adding a
wrapwidthpixels like:
PlayerOptionsP1OnCommand=zoom,0.5;halign,0;shadowlength,1;strokecolor,color("#00000000");wrapwidthpixels,200
That would enforce line breaks after 200 pixels' worth of text. You could make the value whatever you wanted, of course, not just 200.
Hope this helps.