This will definitely be something fun to play with. Making Ranka Lee sing different songs that are horribly wrong will be able to amuse me for a long time.
According to Akiba News, the Rankaloid program should be announced soon. Hopefully they are right.
Megumi Nakajima, who is the Seiyū for Ranka Lee in Macross Frontier, will be lending her voice to the software dev team so they can make it happen. Now if only we could get one of Aya Hirano also. Or even one of my voice would be cool.