I assume you are referring to letter-by-letter effects? This isn't a built-in feature of Hype presently, but it is a popular feature request.
Text elements are just like any other one, so you can animate its basic properties and add actions. So for now, you'd need to manually break apart any text to be separate elements per character and animate those. (Or depending on goals/skills, integrate Hype documents with third party libraries that can accomplish it).
Note you can also add tags around individual innerHTML text like <span> with an id or class <span class="actionOne""> and have JS or css target the class.
And run JS to individualise text to use in some function or css animation.