On that FAQ, the third post by Mike Cohen is IMO the best way. Just build the whole list in Photoshop, being careful to make sure you’re keeping the type in the frame, and save each picture out. Then you can just use Premiere’s transitions to fade one on top of another.
I usually make my text on separate layers and then just hide each layer before I save the file, that way I have the original PSD available for when you have to redo the list. If you have a TON of bulleted lists to “animate” in this fashion, file and directory organization is the key.