Text Animation Engine using Action Script

I am a newbie here and to flash and came across something that I think others would like.

After creating basic text animation with motion tween I thought there must be a better and easier way. I tried SWISHPowerFX but did not like how it made these huge animation movieclips that were hard to control. I found my way to this web site and found the ActionScript Text Animation Tutorial here on Kirupa.com (lots of great stuff on this site!). It is very smooth and easy to control your effect but after playing with it I found out that I have to use a monospaced font like courier or the kerning is all off. After searching some more I did find a cool component on www.cubepix.com that allows you to do text animations that uses action script and keeps the kerning correct of any font. Attached is a SWF of a little animation I did using the component.

I am pretty happy with this new component but does anybody else know of any other components that do text effects with action script? How hard would it be change the one here at Kirupa.com so the kerning works correctly with different fonts.