I think I worked out how to do it, but don't understand what's going on behind the sceens.
If I make a normal script file with the single command disp(magic(5)), then copy and past the output into the m-file as a comment after a section break.
% 17 24 1 8 15
% 23 5 7 14 16
% 4 6 13 20 22
% 10 12 19 21 3
% 11 18 25 2 9
Then save that file as a Live Code file I get what I want (see screen shot or the attached file.)
In the Live Code file, there seems to be a formated text box, which is monospaced. There doesn't seem to be a way of inserting such a box using the menu commands. However, a text box can be copied and pasted from one Live Code file to another, and then edited.