To create some more advanced effects you can use the no-space command. This will prevent space from being added in between words, letters or punctuation that have text effects applied.
You can set how quickly you want your animation by adding a # to the end of the animation command |animation:animationName:#|. The # indicates how many times you want that animation to happen per second.
Doing this can help you create effects like the one here:
Enjoy using |bold, animation:shuffle:5| Text Effects |reset, no-space| , on |color:yellow, bold| E |no-space, color:lightpink, bold| p |no-space, color:blush, bold| i |no-space, color:pink, bold| s |no-space, color:lavender, bold| o |no-space, color:skyblue, bold| d |no-space, color:cyan, bold| e |no-space, bold| !
Which translates to this.