Loved that movie. I think I lost my last copy somewhere.
As for that animation. That actually turned out quite nice. Never was a big fan of my typography class, so I don’t think I could offer much of any help in making it any better. I’d certainly keep it black and white though. How about using pi (in a bit of a darker grey) to scroll, as well as spin opposite of the words, in the background?
You’re right, keeping it black and white will certainly be better alas closer to the movie.
Things i’ll consider (a friend gave me some input, too):
go B/W
make the camera shake less violent
better bug animation (i’ll have to learn how to rig, yay! though the movement pattern of the boid particles is not ant-like … ants stop for a while and then go… )
be better at vignetting
and for the PI numbers… i’ve thought about this, it cant just be static somewhere. I also have to add noise, maybe something like that: http://www.youtube.com/watch?v=mJRHGla_Fio in the background … also in BW. I’ll generate a texture for that in gimp or inkscape. Doing some thousand digits of Pi with blender text will be awful.
I think what you have works well, you may want to add some motion blur, that seems to always be associated with kinetic type.
Here is an example of my kinetic type using the RE:Phrase AddOn in combination with the RE:Lay AddOn. RE:Phrase breaks the phrases into individual characters and RE:Lay transfers animation from one character to the next with a delayed fashion.