The other way to do this is to extrude the text and then do a solid subtraction.
First convert the text into regular polylines by using the "Truetype to Polyline tool. Once converted, select and ungroup it.
Next, 'select all' of the letters of the word or sentence unless you want the text to have different extrusion depths possible only by selecting them and extruding the letters individually. Once these are extruded, and I recommend you do this in the plan orientation, use the move 3D tool and move the text only upward along the Z-axis so that it partially extends above the height of the object you want to engrave. These must overlap! Change to front elevation to verify this and adjust it if required. The point is the the letters must be at least sightly embedded in the object to be engraved.
Lastly, select both objects and from the MODEL menu, choose 'subtract solids' and the letters will be subtracted leaving the negative in the surface of the other solid as if engraved.
If you have VW 11, I recommend you convert this into a generic solid at this point to reduce the size and complexity of the engraving. You may or may not know that the history of the additions or subtractions are maintained as part of the object until made generic. 2X clicking on the object will verify this fact.