Well, after fiddling about with it for about 30 minutes (linux scripting is not my forte), it works! Quite cool, to say the least!
When I run it when music is playing though, using echo hello world > /usr/local/ttsd, it doesn't lower the music volume and say the text, it kind of interlaces the speech and music and goes all juddery. Is this because I just have the standard version of hijack without some of these fancy patches?
And, the most important question - can I get a binary of the 'pico' text editor that works on the empeg? It's the one editor I find really easy to use, and currently I'm FTPing files back and forth from my PC to edit them!