Twice the size with icons. Same scroolspeed but limited to 3 lines at a time (it's a notification, not a log so it doesn't matter if you didn't read it.
Update the notifications from buttom to top.
Animate that they come from the left, kick the list up one line and repeat. Do this in a split second for scrollspeeds sake.
Nice idea? I like the original implementation, though... However it takes long to read, especially with the colorcoaster