It may frustrate some users and drive them away. I'll leave the tab open if you need me to run some javascript code to tell you the current state of the program. Let me know.
EDIT: Pretty fun. After a few attempts, my high score is 34: http://i.imgur.com/YNaIWI6.png ... It's more of a spelling tutor than a typing tutor, because remembering how to spell words is a huge advantage compared to staring at the words.
Something I should mention: The letter forms are extremely difficult to read. V's look like U's, A's look like R's, and Z's look like 2's.
I think this is a wonderful educational tool. Thank you for creating it.