I thought about that too, but I have a field that is the most recent data update (not necessarily extract update) stored in the mysql table that I'm using for the database. I tried to get that field on the dashboard level, but can't figure it out if its possible to get that in the "Insert" box for the text editor.
In that case I think your original approach of creating another sheet to show the information is the best one. As you noted, the text object is just for static text (except you can add Dashboard Name, Workbook Name, Username, Fullname, and parameters).
Thanks Josh. Although, I wish you would have said "Right here stupid", I do like the fact that I didn't waste 20 minutes looking for something that wasn't there. You get the GREEN star today.