Translating tool


I was looking at the Gregg Shorthand key dictionary the other day, and I think it is a great resource. Why don't I make some sort of bulk translation tool with it? I think it would work better without the dashes (sorry if I'm stepping on anyone's toes) and I am not aware of software that does this, but it seems like something that could be written into a macro.
  ru ar oot ad hapnd?
  Are you <ru> aware <ar> of what <oot> had <ad> happened <hapnd>?
  Are you aware of what had happened?
  dte g eththm or n?
  Did he <dte> go <g> with them <eththm> or <or> not <n>?
  Did he go with them or not?

  jams"?
  James?
I underlined because it doesn't have to use a style limited to plain text, i.e. it could use superscript for separate suffixes and prefixes, etc.
The order of the rules will matter, e.g. phrases woud need to be translated before basic words, and I am all ears about how that should be handled.
So what does everyone think?

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