I've put together a simple system which reads news feeds (the BBC, NPR, the Economist and Reuters) in approximately real time and maintains a record of the distribution of terms found in the articles. It then indicates in a stream visualization the articles and unique terms that are observed by the system for the first time within them. The result being that articles which contain no new terms at all are grayed out.
The larger idea here is to build a 'linguistic dashboard' for the web which captures real time evolution of language.
Follow this link to take a look.