I opened your example and it looks like a good easy way to display own sprites as font.
I also tried to understand whats going on in the eventsheet but i can't.
1- Is it true that it replaces each character of a normal textobject by a single frame of the font u used?
2- If its true: how c2 knows what frame should be displayed with each character of the textobject?
3- I want to display the text of my dialogsystem. Could you give me a tip which of the events you used would be important for that?