The text doesn't go away? Not sure about the lag...
Yeaaaah, so I just tested it on my laptop and I can totally see what you're saying. The good news is both problems are related, but the bad news is that if it runs slow for you, you're hosed. The game is not exactly optimized super well (obviously) and it runs almost entirely on your CPU. Because of that, if your CPU isn't great, it will probably run very slow. I was hoping that this wouldn't happen since on my machine it runs at a solid 2k-6k fps, but-of course-best laid plans.
On the two machines that I built and tested it on, they both had I7's and upper-middle range GPU's.
If you don't mind can you post your CPU specs?