Yeah, I've seen that video. And the one which came after that. But currently there unfortunately is no way which I'm aware of to offset the text further than 3-4 blocks away from the module (and in this case the text itself must be relatively short in length). Considering all those awesome features, which are possible now with involvement of rails, and will be possible later with some rumored to be upcoming display module system expansions, imho it's an absolute must-have to be able to project the text without such inconvinient limitations.
About the possible technical limitations: for now display modules use '255' as a string size limit. Also this value is a maximum for a single-byte unsigned variables. Unlike C++, C# and Java are using 16-bit characters, so this will make 255 * 16 / 8 + 1 /*current size*/= 510, which is apprx 0.5KB of memory. Increasing the size cap to 2-byte max value, we will get 65535 * 16 / 8 + 2 = 131072, which is exactly 128KB of memory. As it is a significant increase, no doubts here, it is also not that relevant, as today computers often come equipped with 8+GB of RAM.