LiveTextEdit is a great tool to replace Any Selected Text either in the build in text editor or anywhere outside the app.
Set your custom Text to Replace and Text to Replace With in the menu window, then select a text anywhere in any application and press the custom Hotkey to replace your wanted text with your custom set text. Set any custom Hotkey to replace text.
You can use the Live Text Editor to edit your texts or to save any text for later use.
Updated on Jul 28 2020