First you need to make a template so you can animate it. I'm going to use this template I made in paint. You're more than welcome to use it as well.
Now open your Animation Shop.
Zoom in on your animation by using the magnifying tool. Add individual letters in each square, like so:
Now you have to duplicate the frames a few times.
[Right click the frame » Duplicate Selected]
After you do that, color each individual letter with the flood fill tool.
Now you can preview you animation by pressing this button:
And WA-LA, you're done!
Your finished product:
