Scripts cannot modify the text generator effect (or any effect) other than applying presets so you'd need presets for all the strings you want to use... I'm afraid scripts cannot create presets either.
We would very much like to enable this kind of thing (scriptable effect parameters) in a future release.
When you say sometime in the future, there may be support for parameters. Any timeframe? Is that 4.0c, 4.1 or 5.0 (ballpark)? Most of the other FX and transitions you can get away with having a number of presets to handle a large number of cases except for the text. Is there a way that Text could become available before a general all parameters becomes available? I think someone asked if you could build a tickertape from information in a database the other day. I am guessing the answer to this is no, correct? The same for a clock or a score board where you wanted a separate application to drive the content in the text fields? Unless I generate graphics each time to insert.
With access to the text of the text fields, a quality titler application is possible, something that Vegas is lacking at the current time.
I can't give a time frame nor can I promise that it will ever happen.
I can just say that we really want it to happen.
Unfortunately, text is the most difficult effect parameter to automate
because, internally, it is stored in RTF... that's what allows
multiple text styles in the same effect.
Generating graphics is the best work around at this point. I believe
you can use the .NET framework to render text as bitmaps. Then add the
bitmaps to the project. Event motion could give you placement,
ticker-tape, etc. Not ideal, I know.
There's a FAQ that shows how to add a dissolve transition to an event. Video tracks have an Effects collection that allow something similar to be done. Once the Effect is created it can be added to the track's Effects collection.
Creating a new track can be done like so:
var videoTrack = new VideoTrack();
Vegas.Project.Tracks.Add(videoTrack);
When I get a chance I'll try to make a FAQ specifically for this.
I'm sure .NET will be able to create RTF (if it does not yet). There are libraries already in C# to create PDF, which is more complex.
If you have Photoshop 7, it's scriptable in JavaScript. I think it's possible to script creation of titles in Photoshop with subsequent export to images, then import to Vegas.
The problem with representing text as images in project is that you cannot later select all "text" events on the track and apply different attributes/preset like changing font or color.