Interesting idea, but I'm with Wallienz, I'm not sure how you'd do that and bring enough highlight to the game names yet not obscure the snap.
The only thing I can think off offhand is to apply a "grayed" effect to ALL of the snaps, to in effect, darken out the area where the text will be. Could possibly make it gradiated.
So so still see the snap, it's just darkened where the text is (a bit like the shutdown effect in Windows).
That would still require batching processing all your snaps.
Hm,mmmm. Actually you MIGHT be able to do a mala addin that processes the snaps dynamically before showing them.
I might play around with that idea.....