Download: http://www.box.net/shared/0btagsv0n6
If you already have this loaded, feel free to upgrade; it will not break any previously made compositions, it will simply give you new options for blending and depth testing.
It also has a few other unique features, like global translation and rotation controls. This can also be used like a regular Sprite. One could perhaps augment the project to only render the Quad when an input string matches another file (idle idea, not implemented), to serve as a lock out for your apps.
This supersedes previous releases. This has replace, over, add and alpha modes, as present in GL Tools (and/or Alpha Blend). This plugin doesn't need AlphaBlend.plugin to achieve alpha blending.
Thanks @ Anton Marini a.k.a. Vade, and Chris Wright for clarifications about depth testing and blend modes, but for not spoon feeding at the same time :-)