GAH--I've gone cross-eyed, looking at that so hard! Wofa, see if you can suss it out, will you?
I thought it might be a substitution code, but if it is, then it isn't for every word. When it comes to I and a being used as single letters, there are no substitutes. I did notice one thing, though--and don't take this as 100% for all of it: as I said, I finally had to quit looking at it (I hesitate to say "reading" it)--except for 'the' and 'oof' (and the single letters, of course), every made-up word consists of vowels alternating with consonants, which would be why it's so tantalizingly almost readable. I think this holds true even going from word to word. Now--can't computers be programmed to make up text acc'g. to whatever rules the programmer wants? Is it possible this is just what somebody told their computer to create, dividing the letters every so often?

Faldage, I also thought the key might be in the pronunciation, like that fake Latin you're so good at deciphering. But nothing I tried in this worked. Speaking of tantalizing: one word was 'ifuc', and I got all excited thinking, "if you see"; but I couldn't make any sense out of the surrounding "words".