Limited CSS and jQuery Solution
I am not sure how elegant this solution is, but it cuts everything exactly in half: http://jsfiddle.net/9wxfY/11/
Otherwise, I have created a nice solution for you... All you need to do is have this for your HTML:
Take a look at this most recent, and accurate, edit as of 6/13/2016 : http://jsfiddle.net/9wxfY/43/Take a look at this most recent, and accurate, edit as of 6/13/2016 : http://jsfiddle.net/9wxfY/43/
As for the CSS, it is very limited... You only need to apply it to :nth-child(even)
$(function(){
var $hc = $('.half-color');
var str = $hc.text();
$hc.html("");
var i = 0;
var chars;
var dupText;
while(i < str.length){
chars = str[i];
if(chars == " ") chars = " ";
dupText = "<span>" + chars + "</span>";
var firstHalf = $(dupText);
var secondHalf = $(dupText);
$hc.append(firstHalf)
$hc.append(secondHalf)
var width = firstHalf.width()/2;
firstHalf.width(width);
secondHalf.css('text-indent', -width);
i++;
}
});
.half-color span{
font-size: 2em;
display: inline-block;
overflow: hidden;
}
.half-color span:nth-child(even){
color: red;
}
<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.1.1/jquery.min.js"></script>
<div class="half-color">This is a sentence</div>