I’m currently testing which system I’ll use for displaying and processing the words.
At first I thought about a word slideshow (as you can see in work in progress I – the photoshop screenshot). After Austin mentioned in the comments that this might not be such a good idea, I prototyped this solution and discovered that he was right. You can check the “word slideshow”-approach here: word slideshow
Another approach is the “line switcher”. You basically have two rows of words. The first row is the one you are currently typing, the second one contains the ensuing ones. After finishing row 1, row 2 will jump one line (now being in row 1) and row 2 will be filled with the next line of words. Check it out here: line switcher
If you have any thoughts on improvements or maybe even a better approach, let me know in the comments.