Here is what I end up with this command, included is the DLL to work with AutoCAD 2007 - provided AS-IS.
Command: MTED
Select a Mtext and will open the UI.
Features:
1. Highlight ALL the MTEXT contents when loading the dialog.
2. Color formatting removal.
3. Proper Case - foreach first character word.
4. Whitespace stripping to single between words.
5. Exit dialog without changes.
End of this topic.