In previous versions of Cubase there was the possibility to create an info track. On this track, events could be drawn. These events could have a name like intro, chorus etc. This was meant to give you a guide during tracking.
Is it still there in Cubase 5, or is there a workaround to achieve this?
Well, if you do mean the Marker track, you have to insert a Marker event (e.g. with the pencil tool), then you can rename the event (in the “Description” field of either in the Marker track’s Inspector, or directly in the Markers window). The only other place you can write text (other than, as Jarno said, by naming blank Parts on a regular MIDI (or even Audio) track), is the Notepad.