Hi Rob. I’m not working on Corona at the moment - for reasons that are nothing to do with Corona incidentally. I’m quite happy to transfer the repository to anyone who wants it - or completely open source it - or Corona can have it for free if you want - and assist with anyone who wants to work with it. I’m quite happy to sign it away if you are worried about it.
As you say, the first one is easy enough. All you actually need to do is to create a setFillColor member with the same value as setTintColor. Though it should be recalled, it isn’t a setFillColor in the same way it’s done with (say) polygons, it can’t make blue into red (this is probably why I called it setTintColor !)
The second one, I’m not so sure about. I’d be slightly worried about performance impact. The other thing is there is all the other Corona stuff - xScale, yScale, anchorX, anchorY, rotation and so on - these things ‘sort of work’ as I recall, in that it picks them up when you call one of the methods.
Realistically I would suggest that you probably need to integrate it properly into the SDK - I am limited because I don’t know how it works internally - if it was a real displayObject it would probably work an awful lot better, because I would guess you do the actual translation and stuff at the point of rendering.
Please feel free to borrow/steal/alter any of my code if you want to do this, I genuinely don’t mind.
If you did something like the animation, this does have consequences though, because the Anchor point will be on the move as it animates which will make it look very jerky. The Anchor point needs to fit about the unanimated text. Having said that, I think the text animation is a minor thing anyway, it could rapidly become seriously cliched
Regards to all at Corona and good luck with the free stuff 
Paul.