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I've loved using Fresco on my IPhone, but i really miss some form of text feature. I noticed that you have clarified that you are working on it, but would it be possible to give an ETA? And if not is there another application that you could recommend to slap some text on Fresco artwork? Thank you and keep up the good work.
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Adobe tends not to give Dates or ETAs for releases. That way they won't have people saying "You said it would be available on date x". It's much better for them to be able to work on a feature until it is 'hopefully' working properly before releasing than to either be rushed to finish or release just because they've reached that date.
I don't have an iPhone so I wouldn't know what apps to suggest for that specifically. Though if you have Spark, you could add the Fresco image in Post, or Video. If you have access to Illustrator, Photoshop or InDesign, any of these apps would also work for adding text to a graphic.