In a bit of a conspicuous advertising for broadcastGEMs, Roland Kahlenberg gives you this groovy, versitile text glow-on effect.
Roland has some customizing tips for you, too. "Remember that the effect requires three indentical text layers stacked on top of each other. The top two layers create the highlight effect while the lowest layer creates the entire text string."
"To customize the effect for different text strings, time stretch the top two layers in each group. To do so, select all the keyframes for the top two layers, then press ALT+mouse (Option for the Mac) drag the last layer. Then drag the last keyframe for the lowest layer and give the composition window a good eye-ball. Your objective is to ensure that the last character appears just as the last highlight appears over it."