Most of the features in txtjs can easily be ported to SVG as the primary renderer required is SVGPath. FontLoader/Fonts would require zero change but new controls would need to subclass SVG elements. I am very interested in seeing better text in SVG as well as on <canvas> for creative use.
I found that an absolutely positioned div beat the pants off the performance of rendering text to canvas in almost all scenarios. In fact, I would almost never espouse layering of canvas rendering, and rather propose the layering of <canvas> elements themselves and letting markup engines take care of the composition.
I used to get a good frame rate even on my ancient iPhone 3G. I used simple old-school style bitmap fonts there, though. More retro ;)