I suspect the problem you are having is that you are inserting new objects over the existing objects.
If you want to modify the text in the object, either EDIT | OBJECT, or you can right-click to get into edit mode. The problem is that when the INSERT OBJECT splash-screen appears, you are only one click away from removing, (forever,) the existing object. If you click Cancel, you enter edit mode; if you click OK then it is gone for good, no recovery unless you have the file backed up.
Another option open to you, (though I discourage it from my users,) is to have the Word document, or whatever OLE you are inserting, saved somewhere else. You can then import the data. If you lose the embedded copy, you can always grab it again from the saved copy.
The last option, (I don't allow my users to do this,) is to LINK the file. The problem is that if the file is moved, renamed, deleted or whatever, then the link is broken.
Good luck,
Peter