Yes. From WLED version 0.14.0 there is a "Scrolling Text" effect. The text to be displayed is set by segment name. In the simplest case you only have one segment and you name it with the text that should be displayed. When it comes to scrolling text, you can regulate the font size and speed, among other things.
It is also possible to overlay the scrolling text with a different effect. For example, you can set a color as the background for the text. To do this you have to set two segments that are exactly the same (except for the segment name). Then the segments virtually overlap.
In the first segment you set the desired effect that should serve as the background (e.g. "Solid" for a simple background color). For the second segment, enter the desired text as the segment name and select the "Scrolling Text" effect. You have to click on "Overlay".