Teddy,
I am going to be honest here, but I can't say anything about the effect without ACTUALLY seeing it in action. If you would upload a full performance of it completely unedited, with patter to justify everything, it would be better to critique your effect. Do all these things, then come back and repost a new video.
Also, the effect to me isn't good because of what your video shows. WHY would I want to create a copy of what THEY wrote? What justifies this? Why would I care? Think about these things as you develop your effect more.
Going have to agree. From what is shown in the video, it is hard to get a good sense of what is really happening.
To be brutally honest, the trick does not seem practical, nor does it have motivation. The trick has to answer Who, What, Where, When and Why.
Another thing is the method. From a spectators point of view, the trick is relatively simplistic. With no background on how the trick is done and from one viewing, I have pretty good idea of how this is done. Any spectator who sees this that certain inks rub off of paper on to the skin quite easily with a bit of heat (which comes from your hand).
With a little tweaking, this could be a great trick. I would definitely keep working with it. Use the same basic idea, but use a different method.