The next version of the library will have a version that allows not the wrapping of text to an image, but the automated sizing of text such that every line is fully justified (flush from margin to margin), with lines of less characters generally using bigger font sizes to till the line.
The user will be able to enter text with or without manual line breaks, and real-time editing should be supported.
It should be easy to program all of this within a day, perhaps two. My only concern would be cross-platform DOM manipulation, because I have used MooTools, jQuery and such libraries for so long now, that my DOM API is rusty. Then again, there are few places where node creation is actually necessary, so it will not be long-winded enough to justify use of any library.