Hi
Currently the only effects that directly affect text are text colour, outline colour/thickness, size, font, basic position and scrolling. Video effects of course can be applied to the text image in the same way as clips but only apply to the complete frame once the text has been written.
I do think there is a need for more animation effects within the text application on VP.
As an example I recently wanted to highlight individual letters in a title, making each in turn change colour or in someway highlight. There was no way of doing this except by creating a set of text images each with a consecutive individual letter in a different colour (yellow) and then adding them in order to the timeline.......

In fact I applied the GLOW effect to each of the frames to make the highlighted yellow letter stand out. (almost white)
I feel something like this could be implemented
Another idea would be to have individual letters animate from different directions (controlled by the user) to form the final text. Dropping in or spiraling in or spinning in etc.
Text could be animated to type in like a tickertape effect. Outwards from the centre or in from left or right etc.
With some ingenuity such effects can be created somewhat laboriously using the video effects currently present but often require a lot of text frames and trial and error or movable masking to get them to work effectively.
I think NCH asked for possible ideas so there's a couple or more... :-)
Any thoughts anyone?
Nat