The captions tool is annoying, and although it is faster than manually writing an SRT file, it's still not optimal in terms of speed. It's definitely slowing us indie houses down.
What would be ideal, is if the whole captions panel was one big box, in which you could paste the whole text body, and then through editing create the breaks, where the next line should come in.
This could easily be achieved with a simple STOP button and GO button and it'd work similar to multicam.
Think of it like an auto-cue, that can be paused when there is no dialogue, and resume when the next line of dialogue occurs.
We have completely redesigned the captioning workflow in Premiere Pro version 15.0. While we didn’t implement your specific idea, I believe we have solved the underlying problem. And we have made many other dramatic workflow improvements too. Please update to the latest version.
Learn all about the new captions workflow here: https://helpx.adobe.com/premiere-pro/user-guide.html/premiere-pro/using/working-with-captions.ug.html
Adobe Staff - Nate commented
We are exploring this concept! Thanks for your feedback.