Is there a way to animate a change in the font size of some text. I was thinking to call drawRect from a subclass of UIView and draw the text at different sizes.
You can animate the transform on any UIView including labels.
[UIView beginAnimations:nil context:nil];
label.transform = CGAffineTransformMakeScale(1.5,1.5);
[UIView commitAnimations];
That will scale the text up to 150%. It may become blocky if you make it too big.