Regarding MIDI text events, currently JS has the capability to read only the event
type: 1 = text event, 2 = copyright notice, …
This feature request is to grant JS plugins the ability to read extended metadata associated with a text event (namely, the string itself)
[edit] AND any other similar long messages, such as sysex.
Also, at this stage only short text events of one byte in length are being sent through at all.
Roadmap:
Ideally, once this is incorporated, text events fused into notes themselves could be added, allowing for such things as sophisticated articulation embedding of virtual instruments, which is outlined here:
http://forum.cockos.com/showthread.php?t=34313 and here:
http://forum.cockos.com/showthread.php?t=39327