Scrolling Combat Text/Text Particles <torquescript>

We are trying to implement "scrolling combat text" or dynamic text particles for our game. While I have seen a number of people suggest creating numeric bitmaps, this solution is not elegant or flexible.

Is there a way to create this sort of system in vanilla torquescript/tgb ?

Particular goals:
- Set text value dynamically
- Set font profile (size, color, font) dynamically
- Set position dynamically (particle start and apply velocity)
- Set opacity of the text dynamically (fade on a timer)
- Should support plain characters,symbols,and numbers