In September 2011 I created an improved Ticker title for Final Cut Pro X 10.0.1.
October 2012 update: I've added some new features. Primarily the text can also move from left to right - useful for non-roman script systems. This new version will work in Final Cut Pro X 10.0.5 and newer.
If you need to show a ticker-type feed of text scrolling across your screen, download this effect. You get control over overall vertical position, border and shadow for text and background strip.
Most usefully, when you change the text size, the background strip changes size to match your words.
October 2012 update: You can also crop the ticker so that it isn't the full width of your project, and choose the horizontal start position for the text. The default length is much longer too. Note that single text items in Final Cut Pro X and Motion 5 cannot be more than 32,768 pixels wide - this limits most tickers to 3 minutes in length, but you can overlay titles on top of each other to simulate longer tickers.
Here are some of the controls:
For download links and installation instructions, visit my blog:
alex4d.wordpress.com/2012/10/18/alex4d-ticker-plus-fcpx-title