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problem is I dont know if it works in all browers, I have downloaded it, and I will have a look through the code, I have seen a few versions of the code that open, and close divs / spans / tables.
also do you mean the fx to apply to each block? the problem I can see is with the javascript version that the below website uses, each block would have too be numbered for it too work, have a look at the source code at this website:
http://www.fontmonster.org/index.aspif that doesnt work I could check through some computerarts mags I have got, there was a webs design one a while back with a different version of the code.