You need to create an Audio Montage to work with CD-Text. In your Audio Montage, go to the CD tab, and you can get to the CD-Text by either going to Functions - Edit CD-Text, clicking the big T just above pause, or by double-clicking under the CD-Text column in the file list. You can skip to the previous/next track's info with buttons on the bottom. Please note that the first track's info you might see is actually the disc itself.

Also, your CD-R must be capable of writing CD-Text to use this feature (most CD-Rs are currently) and to view it, you will need a CD player which has this capability. More CD players are offering this, especially ones that also read MP3 CDs. CD-Text will not harm your audio in any way and will not make it incompatable with older CD players.