1. Yes, possible. But how? I dunno.
2. Yes, I think you can edit the text that way ( and other languages: RAYUS AND RAYFR ). LOL at how you can change "You're doomed Rayman..." to "YOU STUPID LITTLE ****". Would be kinda cool for a youtube vid, I guess... Of course, it has other uses than making Mr. Dark swear. You can also use it to translate the game to other languages than English, French and German ( I hope I am right that that is the third language included... no time to check it now ).
Of course, you shouldn't just save it with notepad, but make a new disk
@Joshua: I know that there is readable text in there, but since everything is encrypted, it would be way too hard modifying something via a save file ( it's not a savestate, that's something for emulators and such







