Hi
With VP 4.45 apostrophes seem to come up OK if you type or paste them.
In normal use (don't use them a lot myself) you can select a clip and "Subtitles" and type your text to play between the IN and OUT markers. The text will appear on the clip in the edit window and will register as you type. Don't instinctively press "Enter" when you finish as this will add the blank line.
However I think there may be a bug here as if you HAVE pressed "Enter "and the subtitle has moved up then if you delete the text from the edit window (and presumably delete any blank lines as well) The retyped text appears higher up the screen as if the blank lines still exist.
To get around this I had to delete the text and close the subtitle window and then restart. When I tried this my subtitle remained on the clip and I got rid of it eventually with the back arrow.
I am possibly doing it wrong but that is what I found. :-)
Nat