I'm working on some animated ascii art, coded in JavaScript for Internet Explorer. I won't be spending weeks manually creating movies frame by frame, but I am creating a few effects that I can use to make the ascii art look more dynamic. On thing I've created is a combination of faders and random generators that "morphs" one ascii art image into another. This will create an effect like tuning a TV: you'll get static in which pictures appear and disappear. I've also creating an ascii fractal zoomer, which can zoom in on a fractal in real time and displays the image in ascii. CPU++ required, I am contemplating creating an option to pre-calc the fractal, so it will run on your grandma's PC as well.

 

Another project that I'm thinking of implementing is a textured 3D rotating sphere in ascii. Think of this as a globe with the world map on it that can rotate. You could move it around with the mouse. This is still very much in the concept phase, implementation appears to be doable but I'd need to have the urge and time first.