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I've found if I have my arrow function selected from the left vertical section, select the text, then go to DesignCentral and select the "A", this shows me the font name in the DC top window. If your text has the selection dots along its bottom and its top as well as the kerning arrows on the right of the text, you should be able to use your arrow keys to select up or down, left or right and the text you have on screen should change.
In Flexi type your text. Next choose the black arrow from the toolbar and select your text. Now go to Design Central hit the number or first letter of the font you want to see. You should now be able to use your up/down arrow keys to go through your list and see what the text looks like in that particular font.