This is GLyphy.

GLyphy is a signed-distance-field (SDF) text renderer using OpenGL ES2 shading language.

The main difference between GLyphy and other SDF-based OpenGL renderers is that most other projects sample the SDF into a texture. This has all the usual problems that sampling has. Ie. it distorts the outline and is low quality.

GLyphy instead represents the SDF using actual vectors submitted to the GPU. This results in very high quality rendering.

This is a work in progress.

For more:
http://code.google.com/p/glyphy/

----------------------------------------------------------------------
Compilation instructions on Mac OS X:

1) Install Xcode and command line tools (as of Xcode 4.3.x, from
   within Preferences -> Downloads).
2) Install MacPorts.
3) sudo port install automake autoconf libtool pkgconfig cairo freetype
4) ./autogen.sh
5) make