1) We have no idea what skin you are using
2) We have no idea what your layout is
3) Add a height of 5 billion pixels to div id ABALABALOOBA and all is fixed because that div is always a problem.
Reread 1 and 2 and see what might be the problem...
As for adding text, you need to edit /customer/main/product.tpl
Find:
Code:
<div class="image-box">
{include file="product_thumbnail.tpl" productid=$product.image_id image_x=$product.image_x image_y=$product.image_y product=$product.product|escape tmbn_url=$product.image_url id="product_thumbnail" type=$product.image_type}
</div>
Add it before the </div> and you should be good.