The 'Format Callout' button only applies to Line Callout AutoShapes, so
unless you've selected one of them the button will be dimmed. It does not
apply to Rectangle, Rounded Rectangle, Oval or Cloud callout shapes.
You haven't indicated what type of 'editing' you need to do so I'm not sure
what to suggest. If it's one of the four styles of callout mentioned above,
use the yellow diamonds that appear when you select the shape. They allow
for repositioning of the callout pointer, etc. The 'handles' at the midpoint
of each side & at the corners work for scaling as they do with any other
type of shape. To edit the text content just click in the existing content
as though it were a text box. OTOH, if there is no text in it as yet, right
click within it & choose 'Add Text' in the contextual menu.
If this info doesn't address the problem you'll need to provide a more
explicit description of what the problem actually is -- specifically what it
is that you want to be able to do. Full version update information for
Office & OS X would also be helpful.
HTH |:>)
Bob Jones
[MVP] Office:Mac