a) assuming you have internet access on the device the information retrieval and display is trivial really.
The article you cite stated that images on a 4bpp Framebuffer were a no-no however Geekmaster has shown excellent results with ordered-dither.
My first thought would be "It's too small."
Other than that I don't see why that would be a problem. I even have image-magick and a few other toys that could create the images on the fly. But I think that is overkill.
Assuming you are going for a DX (largest display) I would say that a FULLSCREEN version of the existent browser could probably be hacked together with a cron request to manage rolling updates or some such wangle.
failing that. QT could manage the display, there are probably other options to on those older devices.
If you are going for a tiny sign and are using the newer devices >5 then it's trivial utterly and could be done in a WAF with little effort.
(if it was a toy think: "some assembly required")
Hope that helps.
Many options, limited by size