Hi there
First, a tip. (Shhhh!) You don't need PhotoShop to black out a name in a background image! Just layer in a Highlight Box to cover the name up, right-click and choose Merge into Background!
As for the FMR bit, you could accomplish it by using a Zoom area. Just create a small black (or whatever color you want) rectangle and configure the zoom destination to point to the colored rectangle. Then configure the Zoom Source and Destination to the appropriate points and timing.
Tricksy to set up and would likely require trial and error, but should work okay.
Cheers... Rick 