The text library includes some basic text procs. Multiple libraries have needed some of these procs so being able to include these procs as a library avoids potential duplicate naming errors that'd happen if each library just defined these procs as needed.
This library is also a step towards phasing out the Handy Stuff library. Its overlay feature has been replaced by the Overlays library. Its macro features have been replaced by the Keyboard library. The only remaining features that I'd bother keeping around are its icon and text procs. I guess this means an icon-related library is on the horizon.
If there are any other text procs you can think of, let me know.