Wayland with the reference Weston compositor now have patches available for providing a zoomed-in area to follow the text cursor around the screen. There's also support for animated zoom transitions.
The patch-set for "Introduce zoom-area-follows-text-cursor and animated zoom transitions" hit the mailing list
this morning. These patches were done by Scott Moreau.
Since their initial landing a few hours ago, a v2 series has already been posted
as well to address a few initial problems.
Pekka Paalanen then posted a patch
for the spring visualization on Wayland.