Inkscape is a friendly Free and Open Source Software for creating Vector Graphics. It is very well suited to create fancy looking title overlays for Videos, just look at the examples below. Creating Bitmap Images in PNG Format that are compatible with the Open Movie Editor is possible with the "Export Bitmap..." function in Inkscape, as demonstrated in the screenshot on the right.
The following images show titles that were created in Inkscape for overlaying them onto a video image. You can of course download these files in SVG Format, so you can load them into Inkscape, and use them as a starting point for your own designs. The first example is a display designed for showing the results of a sports event.
The next example is a fancy design that could be used for some fun and action or holiday event.
The last one is a design that imitates the titles that are often used to underline reports on news-channels.
Some more titles: