Not a complete list but I wanted to get a few of these down on paper.
You can create or edit subtitles. You can also use existing subtitle files, add them to the MKV video container (MKVtoolnix) and in doing that the video can have subs in different languages, or to get english subs for foreign movies. You can read SRT files in plaintext and you can actually edit styling in a code / text editor.