You might try Simulate > CC Ball Action.
Drop the Grid Spacing down to 0 (right click the value, then change the minimum to 0 and adjust the slider).
Make scatter to taste, this pull the dots out of the rigid text shape making them hover about. Keyframe the Instability State to get the amount of hover or random action you want.
Adjust Ball Size to taste.
A lot depends on the font you choose for your text, the skinny ones lose parts if the font is streamlined or too small.
For really small of fine text you might try Simulate > CC Scatterize. or Stylize > Scatter.