The same technique can be used when resizing text boxes. Simply hold down the Control, Alt and Shift keys (Mac, Command, Option, Shift) as you resize the text box and you will see that both the box and the text inside it change size proportionally.
Please note, however, that while the text inside the box changes size, paragraph settings will remain unchanged. In the example shown in the Flash movie above, the space after the heading stays the same and has to be adjusted manually. Similarly, if the leading is set to Auto it will adjust automatically when the text changes size. However, if leading is fixed, it will remain unchanged.