As you may have already read half a dozen times, of late I've been extremely enamored with Processing. It only takes an hour or two to throw together simple sketches, and sometimes they end up looking fairly impressive.
Below is a very early sketch for--at a really basic level--representing words. Each word defines a frame to enter the animation and a frame to exit the animation, which makes it pretty painless to create a dynamic note. This below sketch is very limited, but I'm planning to put on some finishing touches:
Background is a function of the existing words on the page (i.e. "mood coloring").
Option for words to fade out, rather than just disappearing.
Option for predictably coloring words (all occurrences of the same word are of the same color, and the ability to pick the color for each word).
Then I'll track down some interesting speeches and try to plot them using it, and see how it turns out...