Reusable Assets - Learning the Cavalry Approach

I'm new to Cavalry, and trying to work out the best approach on some key things. If I have a little animation I want to do on text headlines, like some lines, a wipe, etc... and I want to do it on all the headlines in my whole animation, what is the best way to "package" that so that I am re-using, instead of individually building each, or just copy/pasting some assets for each right on the main timeline? Is the right way to make a composition out of the set of assets? How do I handle the fact that each instance needs customizations, like the headline text? Conversely, while some things need to be changed in each instance, can I also keep the compositions linked so that if I change say, a color in the main one, all of them update?