Hugh as added rotation of text in NME, don't know if that has leaked into OpenFL yet, I am not sure how much css in flash is supported by OpenFL and NME, probably best to try.
if you want a bit more control you can parse fonts it gets metrics so you can arrange letters yourself.
http://code.google.com/p/hxswfml/source/browse/trunk/src/be/haxer/hxswfml/FontWriter.hxbut you could use svg glyh's and hardcode some spacing and get letters and words to follow curves, but it's quite hard work an I have only really played..
https://github.com/Justinfront/LettersBut I don't know of anything for doing layouts of text accept maybe trying some of the haxe component libraries, but they maybe heavy on html, you could just use css and html via cocktail, which should work in OpenFL/NME.