Well, I'm a novice at the whole plugin dev show, so I can't promise any complex features like that. Once I acquire more "know-how", I may consider rewriting the plugin to allow for such vile trickery. Heh.
Until then, each letter has an allocated amount of space within the font strip texture, you can move letters manually within that space - up or down a bit. Horizontal space is a bit trickier without a plugin rewrite.
Basically, the plugin is a quick, beginner's dirty job (even though I slaved over it for several days).