The "Word Sequence" slide is quite a different text slide since it portions the written-in text in sequence instead of simultaneously. So you probably have most use of it in almost a "callout" kind of way.
Usage and Behavior
The default text is 100 characters in the Large typography, but you can also use Huge with an affordance of 85 characters. Regardless of this, you can also set a dynamic scale-up of the text to a maximum of 200% (not visible in the storyboard preview).
The most important control is "Dynamic Duration," which controls whether the number of words split the slide duration evenly or by how big part of the total text length they comprise. So, checking the dynamic duration can give a more natural speed. But there are use cases for both.
You can also set an alternating color in a repeat pattern with the "Nth Word Alternate Color" control. You set the alternating color under "Color," If you input "2" in the Nth Word field, it will make every other word the alternating color. If you input "3", it makes it every third word, and so on. Setting it to "1" does nothing – and uses the Message Text Color for all words.