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Here's a somewhat-tedious kludge:

See this thread about drawing a segmented circle:
http://forums.omnigroup.com/showthread.php?t=20691

Similarly, but using the adjustable-arc (not wedge) tool, draw a segmented circular arc with the desired angular extent of your text and radius slightly larger than your circle. Make as many segments as characters in your text. Put one character in each arc segment and set the text format to align-top. Remove the stroke from all of the segments and group them.

When you enter a character in a segment it will appear as if it's in a different one. Don't worry; that's not a real problem. Once you've finished the entry it will show up where it's supposed to.

One could almost certainly put all that into an Applescript.

Last edited by john.gersh; 2011-12-13 at 05:09 AM..