Initially, I had tried to create this kind of effect in After-Effects, but in classic AE fashion I couldn't find a performant way to implement it.
Houdini's native instancing allowed me to run this effect in real-time and with significantly more flexibility
Due to the small size of the text, it might be hard to see what's happening in the video on a smaller screen.
The input video used here was a separate scene I had made in C4D a few months back.