I think this could be done but you would have to get into GDL Scripting to do that.
GDL can get the location of the Camera and the Target from Global Variable. Then you could calculate the line from Camera to Target and you would have to rotate your 3D Text within that object to be on a plane perpendicular to the line from Camera to Target (a bit of mathematics).
But I see problems as well. First, I don't know how this would work in axonometric views (maybe it wouldn't). Second, there would inevitable be cases where you would not see you text because some element would overlap it when viewed from the Camera.
Maybe the fastest and easiest solution is to place multiple of these elements on different Layers for each used Camera position.
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