Yes, you should change replace me to your new text.
The functions.php file is typically found here:
/wp-content/themes/yourthemefolder/functions.php
However, that should be used if you are using a child theme, otherwise your customizations will be lost on a software update. If you are not using a child theme, then use a site specific plugin instead:
The support post ‘Change Register Now button?’ is closed to new replies.
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Support forum for Event Espresso 3 and Event Espresso 4.