Assuming since this is v1.0, and more features could be coming, I think my review of this application is correct for version 1.0.
There is really only one design that can be warped, kerned, bent, and put into a circle. I think the App Name leaves to much expectation, because artful css text really can be so much more.
For example...using Google's Font API, and no application at all, you could create Anaglyph, Brick Sign, Canvas, Crackle, Distressed, Fire, Fire Animation, and much more.
Using the Google API is free too...