Canvas and its native text functions
Warning:
This is an example of the canvas native text functions. As such you'll need a recent browser. Eg. Firefox 3.5+, Safari 4+ or Chrome 2+.
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This now uses the official canvas text functions. Ergo, as of 1st September 2009, it will only be working on Firefox 3.5, Chrome 2 and Safari 4 (maybe 3.1 - haven't got it installed).
The animation is quite simple and done by rotating the canvas before drawing the text, and then simply rotating it back. The angle that it is rotated by is then incremented. It doesn't seem as smooth as something similar I've done with CanvasText, but that will (hopefully) improve.