-- JUST recieved 'new GT code' from OG, so further update to follow.
Progress has been made:- (ALL EXPERIMENTAL - Take Care)
I dont have much time to support this, but let me know feedback. It's not perfect!

I have now updated the mod and updated this post. I don't know if that's the right thing to do. It just seemed a pointless having non relevant info here.
Usage
Paragraph styles are now available - right, left and center. Justified to come later.
PNG24 transparency is now supported and the mod includes a php browser detect script and automatically inserts alpha filters for ie6 and ie7 if you wish. Why ie7? Because I have noticed that alpha filters solve an "antialias" problem when using png in opacity effects when overlaying. So it's there if you want to use it.
When using PNG24 setting, only foreground color is an option and PNG fix is an option choose IE6 for IE6 and less, IE7 for IE7 and less.
The mod now has slightly better maths and things look a little better.
IT IS ALL EXPERIMENTAL! and the backend looks bad sometimes in Firefox etc Sorry I havent had time to fix this yet. Thought you'd like a look.
Install
Download the zip below and replace the entire \include\inc_module\mod_graphical_text directory with the contents of the zip.
The add your fonts again! - Remember to do this.
No database modification should be neccessary.
Notes
Thanks to Jermome in the first place - I hope you dont mind me changing it - just say if you do!

And while I'm at it thanks to OG, enjoying some of your new 1.35 features at the moment.
I am still using the old code, as new code hasnt appeared yet!

To come
- Justified text
- rotation sooon!
Download modified gt mod here:-
http://www.jamesryder.co.uk/gt/mod_grap ... tiline.zip
Hope it's useful