There are two similar for free at the OVI store, "Banner Touch" & I think the other is called "Bandolero"

http://store.ovi.com/content/21546

They fulfill the function, but I wish there were one available with a mode to sequentially flash full words in the string as well as scroll.

It is faster to communicate to someone across the room:
EAT
AT
JOE'S

than
EEEEAAAAAATTTTT.....ATTTTTT......JJJJJJOOOOOOEEEE' '''SSSSS