It's a butchered version of some of Cicero's writings used by print setters for hundreds of years.
If you Google "Lorem Ipsum" there's lots of stuff out there about it. But it's basically nonsense. You could go and find the original Cicero writings. This article popped up on Google for me and references the work, along with info in how or why it's used.
Why is this even patentable? Games already have this, and quick resume on the Xbox does a very similar thing. It's not unique enough innovation in my mind to be able to do it at multiple points in time IMO.