Rotated multi-coloured text

I am trying to draw multi-coloured text at an arbitrary angle. I can draw coloured text using the material replacement and special shader trick but the only solution for drawing rotated text that I could find was to use GUI.Label in the OnGUI call (and modify the GUI.matrix) but this is limited. It allows me to change the styles colour but not the shader or material.

http://unity3d.com/support/documentation/Components/class-TextMesh.html