In Visual COBOL for Eclipse 2.0 you can comment/un-comment a block of code using the following technique:
-First under Windows > Preferences > General > Appearance > Colors and Fonts > Under Basic make sure that the two Entries “Text Editor Block Selection Font” and “Text Font” have the same font and font size set, e.g. Courier new 10.
-Then in your Cobol Editor windows/View select a block of COBOL code, then on the Eclipse menu you will see a button called “Toggle block selection mode” (keyboard shortcut Alt Shift A), this will allow you to select a block in the editor, select column 8, once you have selected the column you can press the * and you code will be commented. You can repeat the operation but instead of pressing a * you press the spacebar to uncomment the code block.
Indents can be done using Keyboard shortcut keys Shift Tab to move the code block to the left and tab to move the block to the right.