The reason it is read only is because it looks like you are viewing an already sent email. Try changing the options of the actual template (Explorer > Instance > Resources > Templates > Delivery Templates).
As for the approvals it may be you don't have these due to the packages your company has bought from Adobe. If you try the different options available in the screenshot you attached then I'm pretty sure you will get it to work - I think you will want to choose the automatic option (or something along those lines).
Depending on the default settings in your delivery templates and the packages you purchased, you may or may not see certain options. But you should still be able to have enough options to define approval processes.