Hi Ferdinand - I understand that is is complex and not something that you can easily give an answer to that would be correct in every situation.
For me the use case for this is 1:N, but when I read your first reply, it hit me that it could actually theoretically be useful with N:M too. At least 2:N, I doubt much more than that, but programming wise "two is many" - i.e. more than one, so programming for 2 and 1024 won't be much different, but if was only ever going to be 1 DP, that would make a difference.
I am leaning towards CommandData like you indicate, but I will experiment a bit with the code to actually set the text content parameter. I also have some other calculations that need to calculate based on for instance the bounding box of the text object after the text has changed, and I want to do this without ending up in some sort of document destroying hell. Don't be surprised if more questions show up eventually if I run into race conditions after I paint myself into a corner.
Thanks again!