I think maybe BGInfo lets you display the content of a text file.
Maybe make an Autohotkey script to open the text file, then update BGInfo when the window is closed... (?)
Yes, I think that's why I stopped using BgInfo - it was too constipated. It runs and then shuts down after arranging the display. You have to restart if after every change. And it's not very flexible in what it can do - as compared to Samurize.
Samurize was incredibly powerful. You could get it to display the txt file with artifacts, tints and transparency - variables to suit the background image. If you right clicked on the txt display (which seemed to behave like an active embedded object in the desktop), then you could edit the txt file with Notepad or whatever you wanted, and then save it, and the display would immediately be refreshed with the changed text.
Similarly, you could just open the txt file in an editor, edit it and then save it, and the display would immediately be refreshed with the changed text.
I just tried the latest version of Bginfo v188.8.131.52, and it seems to be much the same as I recall. Ideal as a KISS approach though.@Curt
suggested Notezilla and Rainlendar Pro. I reckon they could be worth looking at, though I haven't used them for this sort of thing.
The Stickies suggestion I made is a bit of a kludge to do something similar to what you could do with Samurize.