create "typing effect"

hey guys,

im doing a short film and trying to create a typing effect over an image. i've been doing this frame-by-frame, letter by letter, shape by shape in fcp, but i know theres got to be a better way to do this. i know its possible to do this in livetype but im not sure how. if you have no idea what im talking about check this.

http://www.youtube.com/watch?v=MR8wFWWgyWY

There's also a Text type in fcp, but im not sure how to "delete text"

thanks for any help