Best Streaming Encoding Software to incorporate a message feed I am trying to stream a weekly boardgaming video podcast. I was hoping to incorporate a message feed to video. I want the people playing the game to be able to show watchers their strategies without revealing it to the other players.

I was thinking some sort of twitter feed that only the users at the table can contribute to or something like that. I have never done anything like this and am new to streaming so any ideas would be helpful.
I  not sure if I understood your question correctly, but CasparCG would be a common solution to overlay graphics (or anything else) to a video feed.
 http://www.casparcg.com

Or, if you want to do this in software, take a look at the liquidsoap library:
http://liquidsoap.fm/doc-svn/video.html