Just want to post this for future reference, for anyone it might help since this post is labeled 'Not Answered'.
Edit sheet format, insert/annotations/note, select sheet to place note, select 'link to property' icon under the note options dialog box, the title block note wouldn't allow me to drag the red grippers to size.
Edit sheet format, insert/annotations/note, select sheet to place note, resize the note with red grippers to fit inside the title block text area, THEN add the 'link to property'. The note will wrap text at that point.
This is what worked for me to get the grippers to start working. Hope this helps!
Edit: Also should mention using SW2012 SP4.0
This is definitely answered and should be bumped.
Moderators can you please put this as answered?
By the way this was done using a link to property ($PRP:"Description")
Retrieving data ...