Look up some "Text to Birds" or "Text to Sand" tutorials. This was all the rage for a while, mostly using Trapcode Particular. You're gonna need some way to shape the emitter like your text and Particular is pretty much the only decent option in AE. In addition, you will require some animated masking and wiping. Depending on what look you have in mind, of course you can also use tools like Particle World that come with AE and just dissolve between the text layer and the particle cloud. Or you could even use custom shapes in a shatter map in the Shatter effect for the butterflies. Really depends on the look you have in mind and the tools at hand, just be prapred that it's gonna take some time and patience.
Thank you so much for giving me a place to start. My ideas may be slightly (okay alot) further advanced than my capabilities. Think I'll keep learning AE for now and takle this project when I am a little more knowledgeable.