That is a lot of requirements.
The only thing I have seen come close is the Pygame programming environment (
http://www.pygame.org). You can move things around, scroll text, use transparency and truetype fonts. As the name suggests you write your application in python.
It also has facilities for playing movie clips (MPEG format) but I never tried that out, so I don't know if you can overlay text.
Pygame is built on top of SDL multimedia library (
http://www.libsdl.org/). MPlayer can output to SDL, so you may be able to incorporate other video formats somehow, or use SDL directly. Never been there, so can't offer much advice.