You could use custom icons to present a pseudo name (an image of the text you require) and another roll over pseudo name in the same manner.
This is called "styles for Highlighted Icons", to use it you would need to create and upload the two jpg images
nameImageOver.jpg
and
nameImageNormal.jpg
The kml would look like so:
<?xml version="1.0" encoding="UTF-8"?>
<kml xmlns="http://www.opengis.net/kml/2.2">
<Document>
<name>Highlighted Icon</name>
<description>Mouse over to see the swap</description>
<Style id="highlightPlacemark">
<IconStyle>
<Icon>
<href>http://www.yourserver.com/nameImageOver.jpg</href>
</Icon>
</IconStyle>
</Style>
<Style id="normalPlacemark">
<IconStyle>
<Icon>
<href>http://www.yourserver.com/nameImageNormal.jpg</href>
</Icon>
</IconStyle>
</Style>
<StyleMap id="exampleStyleMap">
<Pair>
<key>normal</key>
<styleUrl>#normalPlacemark</styleUrl>
</Pair>
<Pair>
<key>highlight</key>
<styleUrl>#highlightPlacemark</styleUrl>
</Pair>
</StyleMap>
<Placemark>
<styleUrl>#exampleStyleMap</styleUrl>
<Point>
<coordinates>-122.0856545755255,37.42243077405461,0</coordinates>
</Point>
</Placemark>
</Document>
</kml>