The app is good functionally, making Flash text actions from the available effects far easier to make than in Flash itself. It's definitely a time saver, and with a little imagination, can produce very appealing and clever results. I'll hand it that nicely.
However, the GUI needs a major overhaul, with a major sized design/preview field that renders the spacing properly as inputted, instead of entering the text into a tiny window and needing to render a full preview to see results.
It also needs partial preview reviews, instead of start to finish only. In long sequences, it can take a long time to review minor changes. You can spend a lot of time waiting for the results of your changes to be viewable. This eats a lot of time in the process. The ability to see the preview from one flag to another is needed badly.
It's okay if you don't stack a lot of sequences together in a single project, creating instead more shorter sequences and editing them into a whole in another application, like Flash or SWF n' Play. Trying to do a five minute text presentation as a standalone export would be a serious pain with a lot of idle time in a long day.
If these two concepts were built into the GUI, it would be a major production tool for all Flash designers. As is, the GUI is a little self-limiting in the design process, a specialty tool that's a little too lacking to be an everyday app for the pro. It does a really nice job, but it needs better work habits to streamline production for serious Flash users.
Maybe when it gets a little older.
It is quite good for those occasional users who want to use Flash to animate a little text for a web site. It is easier than Flash by a long shot, and the limitations aren't that big an issue for those who don't use it regularly and don't mind blind tweaking.